The Neo-Ricardian School of economic thought is naturally based on the theories of David Ricardo. The school is somewhat similar to Post-Keynesian and Neo-Marxian economics. Neo-Ricardian economics is based on intensely mathematical theory that suggests that the value of labor described by Karl Marx and Frederich Engels is both determined by, and inconsistent with producer prices. The school draws on Piero Sraffa’s interpretation of Ricardo’s work in Production of Economies by Means of Commodities. Sraffa argues that marginal productivity theory must have an adequate aggregate means to measure capital. Since, according to Sraffa, this tool is not available, marginal productivity theory must be false.

Notable Neo-Ricardian Economists

Franklin Serrano
Fabio Ravagnani
Roberto Ciccone
Sergio Parrinello
Alessandro Roncaglia
Maurice Dobb
Gilbert Abraham-Frois
Giorgio Gilibert
Pierangelo Garegnani
Krishna Bharadwaj
Luigi Pasinetti
Joan Robinson
John Eatwell
Piero Sraffa
Murray Milgate
Ian Steedman
Heinz Kurz
Neri Salvadori
Bertram Schefold
Fabio Petri
Massimo Pivetti

Here is an analysis of Britain’s budget and windfall taxes on petroleum that involves Neo-Ricardian economics.

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