On Some Controversial Aspects of Sraffa's Theoretical System in the Second Half of the 1920s

The object of these pages is to revive a critical reflection on the significance of Sraffa's early theoretical work in the five-year period running between 1925 and 1930. After identifying the main interpretative issues, attention is focused on Sraffa's thought on the shape of cost curves and its consequences on the relationship between price and quantity produced. The issues dealt with include the real motivations of Sraffs's criticism of Marshall's theory of value.