Review of Political Economy, 4 March 2025
“..Even the most recent heterodox strands of research, including the so-called consistent stock-flow approaches or agent based models, only become effective in the theoretical struggle if they choose between the neoclassical and the Sraffian approach [..] However, from at least some of Sraffa’s traditional interpretations there is a risk of drawing an overly optimistic view of modern capitalism. Some of them seem to place too much emphasis on social progress that might result from wage claims alone or from merely governing effective demand. On closer inspection, this remarkable political optimism has a precise theoretical basis..”
link to the article – Review of Political Economy