Abstract
Panico examines how Sraffa’s “objectivist” approach can correlate with his analysis on the role of money in the theory of distribution. He delineates how Sraffa linked theoretical work with that on history and policy, moving in accordance with the academic tradition, headed by Marshall, which dominated in Cambridge before WW2. Panico also discusses the implications of Sraffa’s interpretation of the objectivist approach and of historical materialism for the study of the role of money in the theory of distribution. Finally, Panico compares the evolution of Keynes’ and Sraffa’s work on the role of money in the theory of value and distribution, underscoring the existence of close cooperation between the two.
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