According to Sraffian economists, both the aggregate and the general equilibrium versions of the neoclassical theory suffer from a logical inconsistence that prevents them from identifying a long-period position. The aim of this paper is to show that also Sraffa’s approach, based on the...

The main tenet of the paper is that cost-plus non-competitive prices, while obviously set by firms according to expected market demand for their output, can be assumed to be independent of possible discrepancies between the expected and the actual demand for firms' output. The analysis is placed...

Within Hicks's temporary equilibrium method, the paper explores the possibility of supporting the Sraffian theory of prices with a cost-plus explanation of pricing. The model proposed assumes that all firms take their investment decisions with reference to an accounting period, constituted by...

The aim of this paper is to propose an analytical framework wherein the individuals' choice problem is addressed in terms of alternative time-consuming activities rather than alternative bundles of goods and services. In particular, the paper reverses Becker's (1965, The Economic Journal, 75...

The paper inquires into notional defined contribution pension schemes, which retain the pay-as-you-go financing method while adopting the award and indexation formulas typical of funded, defined-contribution systems. It examines the properties of the new arrangement and compares them with those...

The paper identifies the sustainable rate of return (to be credited on all account balances) for a generic Defined-Contribution pension scheme regardless of its degree of funding.

The aim of this paper is to cast the problem of the alternative between skilled, time-intensive and unskilled activities within an analytical framework wherein the individuals' choice problem is addressed in terms of alternative time-consuming activities rather than alternative bundles of goods...

The paper suggests that casting the choice problem in terms of alternative time-consuming activities can foster the fruitful cross-fertilization between economics and psychology along the lines suggested by Scitovsky in the Joyless Economy. The first part emphasizes how mainstream, utility-based...

The paper uses a Sraffa-type two-sector model to study how the presence of retired workers interacts with the distribution of the surplus between workers and capitalists (firms). In particular, the paper investigates how the ongoing diminution of the ratio between active and retired workers...