Abstract
This chapter illustrates Piero Sraffa’s life and works, from his early writings on money and his articles on the theory of the firm up to his edition of Ricardo’s works and correspondence and his book, Production of Commodities by Means of Commodities. It recalls Sraffa’s influence on Gramsci and Wittgenstein, and his intellectual relationship with Keynes. It provides an interpretation of his analysis of prices and income distribution placing it firmly within the classical approach but such as to be compatible with Keynes’s ideas. It also stresses Sraffa’s opposition to the marginalist approach and his critiques of its conceptual foundations and to various versions of it: Austrian, Marshallian, today’s mainstream macroeconomics relying on an aggregate notion of capital, and any theory of value and distribution that considers the wage and the profit rate as scarcity-determined prices of the factors of production, labour, and capital.
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