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A Revolution in Economic Theory: The Economics of Piero Sraffa

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This book draws on the work of one of the sharpest minds of the 20th century, Piero Sraffa. Ludwig Wittgenstein credited him for 'the most consequential ideas' of the Philosophical Investigations (1953) and put him high on his short list of geniuses. Sraffa's revolutionary contribution to economics was, however, lost to the world because economists did not pay attention to the philosophical underpinnings of his economics. Based on exhaustive archival research, Sinha presents an exciting new thesis that shows how Sraffa challenged the usual mode of theorizing in terms of essential and mechanical causation and, instead, argued for a descriptive or geometrical theory based on simultaneous relations. A consequence of this approach was a complete removal of 'agent's subjectivity' and 'marginal method' or counterfactual reasoning from economic analysis – the two fundamental pillars of orthodox economic theory.

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Detail Information

Series Title

-

Call Number

330 SIN r

Publisher

: Palgrave Macmillan., 2016

Collation

XVII, 244

Language

English

ISBN/ISSN

978-3-319-30616-2

Classification

330

Content Type

text

Media Type

computer

Carrier Type

online resource

Edition

-

Subject(s)

History of Economic Thought and Methodology

Specific Detail Info

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Statement of Responsibility

Ajit Sinha

Other Information

Cataloger

umi

Source

https://link.springer.com/content/pdf/10.1007/978-3-319-30616-2.pdf?pdf=button

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