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Neo-Smithian Economics? (After Sraffa)
CNR-IRCRES, Consiglio Nazionale Delle Ricerche, Istituto di Ricerca Sulla Crescita Economica Sostenibile, Roma, Italy
- 1 CNR-IRCRES, Consiglio Nazionale Delle Ricerche, Istituto di Ricerca Sulla Crescita Economica Sostenibile, Roma, Italy
American Journal of Industrial and Business Management·Volume 10 (2020)·Pages 1853–1856·Published 22 December 2020·DOI10.4236/ajibm.2020.1012115
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Abstract
In this article, the attempt is made at overcoming some flaws commonly attributed to the economic thought of Adam Smith. It is then argued that such a solution may open up the possibility of fertile links between a Neo-Smithian approach and the John Maynard Keynes’ theory of income and employment.
KeywordsMethodology of EconomicsTheory of Prices and Income DistributionTheory of Income and EmploymentConsumption MultiplierPropensity to SavingsRate of Profit
- Keynes, J. M. (1997). The General Theory of Employment, Interest and Money. Buffalo, NY: Prometheus Books.
- Smith, A. (1994). The Wealth of Nations. New York, NY: The Modern Library.
- Sraffa, P. (1960). Production of Commodities by Means of Commodities. Cambridge: Cambridge University Press.