A discussion with Vernon Smith on the Classics, Marx, and Sraffa

Emiliano Brancaccio

This paper is a revised version of a discussion with Nobel laureate Vernon Smith on the limits of neoclassical theory and on the opportunity to recover the alternative approach of classical economists and Marx. Vernon Smith is certainly right to insist on the heuristic force of the classical concept of "price discovery". However, his interpretation of the classical theory of prices remains in many respects undetermined, unless it is clearly anchored to Sraffa.

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Year of publication:	2022
Authors:	Brancaccio, Emiliano
Published in:	PSL quarterly review. - Roma : [Verlag nicht ermittelbar], ISSN 2037-3643, ZDB-ID 2687037-X. - Vol. 75.2022, 303, p. 425-431
Subject:	Vernon Smith \| Neoclassical approach \| Classical approach \| Sraffa \| price discovery \| theory of prices \| Klassische Ökonomie \| Classical economics \| Ökonomische Ideengeschichte \| History of economic thought \| Neoklassische Theorie \| Neoclassical economics \| Werttheorie \| Theory of value \| Preistheorie \| Price theory \| Marxismus \| Marxism

Type of publication:	Article
Type of publication (narrower categories):	Aufsatz in Zeitschrift ; Article in journal
Language:	English
Other identifiers:	10.13133/2037-3643/17973 [DOI]
Classification:	B12 - Classical ; B21 - Microeconomics ; B24 - Socialist; Marxist ; B51 - Socialist; Marxian; Sraffian
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10014230981