Autore
Ravagnani, Fabio

Titolo
The classical theory of normal prices and the analysis of economic changes: a comment on D'Orlando
Periodico
Università degli Studi di Roma "La Sapienza" - Dipartimento di Economia Pubblica. Working Paper
Anno: 2007 - Volume: 11 - Fascicolo: 104 - Pagina iniziale: 1 - Pagina finale: 19

This paper examines the critical remarks that D’Orlando (2005) addresses to the classical theory of value based on ‘normal’ positions and briefly comments on the alternative dynamic analysis of short-run prices that he recommends. In particular, the first part refutes D’Orlando’s considerations about the method traditionally adopted in classical analysis and discusses the claim that the characteristic structure of classical theory prevents consistent determination of the normal prices. The second part moves on to consider the basic elements of D’Orlando proposed short-period analysis and argues that they appear problematic on both theoretical and methodological grounds.



SICI: 1974-2940(2007)11:104<1:TCTONP>2.0.ZU;2-R
Testo completo: http://dep.eco.uniroma1.it/docs/working_papers/Wp104.pdf

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