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A Revolution in Economic TheoryA New Beginning

A Revolution in Economic Theory: A New Beginning [In the Notes titled ‘Winter 1927–28’, Sraffa begins to work out his ‘equations’. It was quite easy for him to see that in a subsistence economy or the economy with ‘no surplus’, the relative prices of commodities could be directly determined by the given physical input–output data:] http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png

A Revolution in Economic TheoryA New Beginning

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Publisher
Springer International Publishing
Copyright
© The Editor(s) (if applicable) and The Author(s) 2016
ISBN
978-3-319-30615-5
Pages
51 –89
DOI
10.1007/978-3-319-30616-2_3
Publisher site
See Chapter on Publisher Site

Abstract

[In the Notes titled ‘Winter 1927–28’, Sraffa begins to work out his ‘equations’. It was quite easy for him to see that in a subsistence economy or the economy with ‘no surplus’, the relative prices of commodities could be directly determined by the given physical input–output data:]

Published: Aug 19, 2016

Keywords: Entropy Production; Marginal Utility; Relative Price; Relative Prex; Equal Rate

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