Download E-books A Revolution in Economic Theory: The Economics of Piero Sraffa PDF

By Ajit Sinha

This booklet attracts at the paintings of 1 of the sharpest minds of the twentieth century, Piero Sraffa. Ludwig Wittgenstein credited him for 'the so much consequential principles' of the Philosophical Investigations (1953) and placed him excessive on his brief checklist of geniuses. Sraffa's innovative contribution to economics was once, notwithstanding, misplaced to the area simply because economists didn't be aware of the philosophical underpinnings of his economics. in line with exhaustive archival study, Sinha provides an exhilarating new thesis that indicates how Sraffa challenged the standard mode of theorizing by way of crucial and mechanical causation and, as an alternative, argued for a descriptive or geometrical idea according to simultaneous kin. A end result of this technique used to be an entire elimination of 'agent's subjectivity' and 'marginal approach' or counterfactual reasoning from monetary analysis – the basic pillars of orthodox financial theory.

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