Piero Sraffa 101: The Man Who Challenged Classical Economics
Zatrun Published at April 17, 2023

Piero Sraffa 101: Who is the Famous Italian Economist? In this article on, we will cover in detail everything you need to know about Piero Sraffa, a famous Italian economist and a lecturer at the University of Cambridge.

Who is Piero Sraffa?

Piero Sraffa was an outstanding Italian economist who made significant contributions to the field of economics during his lifetime. Born on August 5, 1898 in Grosseto, Italy, Sraffa was passionately devoted to economics from an early age. After completing his studies in Italy, he continued to study further education at the University of Cambridge in England, where he focused on economics, and began to conduct studies.

During Sraffa’s tenure as a faculty member at the University of Cambridge, he worked with some of the most important economists of his time, including John Maynard Keynes. Piero Sraffa was a prominent Italian economist and academic at the University of Cambridge. He became known for his work in classical English economics. He was also known for his comments on the works of classical economists such as David Ricardo and Adam Smith.

In addition to his expertise in classical economics, Sraffa has also studied in the fields of economic history, monetary theory, and finance. His most important contribution to the field of economics is his book “The Production of Commodities by Means of Commodities”. He passed away on September 3, 1983 in Cambridge, England, leaving a legacy in the field of economics.

His Major Works

Piero Sraffa is best known for his extensive work on classical English economics, especially his commentaries on the works of David Ricardo and Adam Smith. He was also famous for his research on economic history, monetary theory, and finance. Among his important contributions is his book “The Production of Commodities by Means of Commodities”, which explores the reasons behind the Decadence of capitalism. In “Notes on the Theory of Production”, Sraffa discusses the determination of costs and how production can be optimised.

Sraffa is also the author of “The Works and Correspondence of David Ricardo”, a compilation of the works of David Ricardo prepared by Sraffa himself. In “The Role of the Capitalist Business System”, he explores the inner workings of the capitalist business system and its consequences.

In addition, in his work “The Role of Capital in the Production Function”, Sraffa examines the impact of profit on the production function, and in his work “The Laws of Return in Competitive Conditions”, he examines the laws of return in competitive conditions.

Piero Sraffa’s contributions to economics were ground-breaking, and his work continues to be studied and appreciated by scientists around the world.

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