Input–Output Analysis from a Wider Perspective: a Comparison of the Early Works of Leontief and Sraffa
Abstract
This paper compares Leontief’s 1928 PhD thesis and Sraffa’s work in Cambridge in 1927–1928 as reconstructed from Sraffa’s unpublished papers. Both authors showed that relative prices and the interest rate can be determined exclusively in terms of the observable amounts of commodities produced and used up during a year — without any reference to demand and supply. While Sraffa continued to elaborate a comprehensive objectivist, surplusbased alternative to the marginalist theory, Leontief’s interest shifted towards applying the new tool of input–output to practical problems. However, his assumption of given value added coefficients in his price equation cannot be sustained.
Keywords:
history of economic thought
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References
Литература на русском языке
References in Latin Alphabet
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Published
2007-06-29
How to Cite
Курц, Х. Д., & Салвадори, Н. (2007). Input–Output Analysis from a Wider Perspective: a Comparison of the Early Works of Leontief and Sraffa. St Petersburg University Journal of Economic Studies, (2), 003–021. Retrieved from https://economicsjournal.spbu.ru/article/view/3767
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On the occasion of the centenary of the birth of Vasily Leontiev
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Articles of the St Petersburg University Journal of Economic Studies are open access distributed under the terms of the License Agreement with Saint Petersburg State University, which permits to the authors unrestricted distribution and self-archiving free of charge.
