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Authors
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Abstract(s)
In this paper I address some elements in Piero Sraffa’s thinking that are
connected to his conceptualization of the phases of capitalism. Sraffa describes various
stages of capitalism using similar categories to the ones employed in the model of the
economy provided in Production of Commodities. This is done by distinguishing the
role of population, land and (circulating, intermediate and fixed) capital in each stage.
Sraffa changed his conceptualization of fixed capital over the years, until he reached its
final formulation. The conceptualizations of fixed capital that Sraffa discusses, together
with his remarks on money which are made through an analogy with circulating and
fixed capital, provide some elements that shed light on Sraffa’s view of the dynamics of capitalism.
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Pedagogical Context
Citation
MARTINS, Nuno Miguel Ornelas - Sraffa on Fixed Capital, Money and the Phases of Capitalism. Review of Political Economy. ISSN 1465-3982. Vol. 26, n.º 1 (2014 ), p. 111–127
Publisher
Taylor & Francis
Taylor & Francis
Taylor & Francis