Vol. 12 No. 23 (2016)

Artículos

A CRITICAL VIEW OF THE PROBLEM INDETERMINATION OF IN THE ECONOMIC SYSTEM OF PIERO SRAFFA

Published 2016-07-04

  • Alejandro Rodríguez-Arana

Alejandro Rodríguez-Arana
Profesor investigador Universidad Iberoamericana

Abstract

The model by Piero Sraffa (1960) proposes an indeterminacy in the distribution of income, which has important implications since its arbitrary determination modifies relative prices among goods. This paper shows that when we include equations of production and the Ramsey's 1928 model of demand for goods, the indeterminacy of the Sraffian system disappears provided where there is full employment of labor. Relative prices of goods in terms of wages are determined as a variant of the labor theory of value, nonetheless.

Keywords

Income distribution, profit rate, indeterminacy

PDF (Spanish)

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