Paul Samuelson and Piero Sraffa – Two Prodigious Minds at the Opposite Poles

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Abstract

This chapter compares two giants, in the history of economic thought, who stood at opposite poles. Paul Samuelson was one of the main architects – perhaps the main architect, and in any case the leading symbol – of what nowadays is known as Neoclassical economics – i.e. mainstream economics. Piero Sraffa was the most acute critical mind of Marginal, hence Neoclassical, economics and the leading promoter of a resumption of that Classical economic analysis, which – born on the eve of the Industrial Revolution – was (as he claims) “nipped in the bud”, and unduly submerged by the over-flowing of Marginal economic theory.
Lingua originaleEnglish
Titolo della pubblicazione ospiteSamuelsonian Economics and the Twenty-First Century
EditorMichael Szenberg, Lall Ramrattan, Aron Gottesman
Pagine146-164
Numero di pagine19
Stato di pubblicazionePubblicato - 2006

Keywords

  • Neoclassical vs Classical economic theory
  • Paul Samuelson
  • Piero Sraffa
  • Re-switching of techniques debate
  • Standard commodity debate

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