"Another example is that in a system of production with produced inputs with circular production, a change in a factor input price generates collateral effects that invalidates the ceteris paribus, partial equilibrium methodology underpinning the derivation of the slope of the constant output factor input demand function. This not only makes the function meaningless, it also undermines partial equilibrium analysis. However, this well-known point is simply ignored." -- Frederick S. Lee
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12 years ago
2 comments:
Robert,
Based on your enthusiasm for Sraffra and the fact that you appear to be right much of the time, I've been looking to read some of his work.
The problem: Amazon is thin on Sraffra and I'm not sure where his best work lies. Could perhaps give me some recommendations?
Sraffa's classic work is Production of Commodities by Means of Commodities, but it is difficult to see the point. Some time ago, I made a list of textbook introductions. These textbooks take a variety of perspectives on Sraffa, and assume different backgrounds.
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