one big problem with the Sraffa tradition (that of reswitching, not the early stuff) is that it is highly dependent on the assumption of equilibrium. That is, the equilibrium points are knife-edges, unstable, which makes them inappropriate for most empirical work. This is unlike the neoclassical tradition, in which the assumption of smooth curves allows the attainment of a new equilibrium after an old one has been disturbed. However, it is appropriate to use Sraffian equilibrium models to criticize neoclassical (or other) equilibrium models. It is the latter where Sraffa has been most successful.
On 5/16/06, Michael Perelman <[EMAIL PROTECTED]> wrote:
Recently, Paul raised the question of empirical work in the Sraffa tradition. He might be interested in a post on my blog: http://robertvienneau.blogspot.com/2006/05/empirical-evidence-exists- on-sraffa_16.html Yours, Robert Vienneau -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail michael at ecst.csuchico.edu
-- Jim Devine / "the world still seems stuck in greed-lock, ruled by fossilized fools fueled by fossil fuels." -- Swami Beyondananda
