| Titre | Théorie néo- classique et longue période : Un commentaire | |
|---|---|---|
| Auteur | Bernard Masson, Christian Bidard | |
 |
Revue | Cahiers d'économie politique |
| Numéro | no 22, printemps 1993 Actualité et spécificité de la pensée classique | |
| Page | 45-49 | |
| Résumé anglais |
The relationships between the classical and neoclassical theories are much more complex that the neo-Ricardians use to recognize. Sraffa's study is indeed a clever criticism fo some ancient versions of the marginalist theory, such as those developed by Bo'hm-Bawerk or J.B. Clark, but it would be a mistake to identify them with the modem neoclassical theory which is able to consider production as a circular process and is unaffected by the critique of the theory of capital. Moreover the idea that an alternative theory of prices might not rely on any return to scale assumption is wrong. Sraffa's formalisation for prices of production requires constant returns and, as far as activity levels are concerned, the fuzzy notion of long run position must be identified with that of steady state or regular growth path in order to be compatible with the price equations. Under this assumption the prices of production are nothing but the intertemporal equilibrium neoclassical prices (at least for single-product systems, otherwise the "prices of production" do not generally exist). The turnpike theory studies the possible convergence towards such a steady state : if the answer is negative (as it may happen), it is meaningless to study a regular growth path which represents an unstable state of the economy. Source : Éditeur (via Persée) |
|
| Article en ligne | http://www.persee.fr/web/revues/home/prescript/article/cep_0154-8344_1993_num_22_1_1143 |
