It is well known that Sraffa analyzed fixed capital as a 'joint product' along with regular products, such that in each period a given machine (together with other material and labor inputs) produces a regular product plus a one-period-older machine of the same type. What is perhaps less well...

This paper responds to Christian Gehrke's comment, and argues that the main conclusion of my earlier paper is sustained—that, contrary to Sraffa, Marx did not 'adopt' in any sense of the word the joint product method of treating fixed capital. It agrees with Gehrke that Torrens adopted a form...