A Simple Model of the Surplus Approach to Value, Distribution, and Growth

Abstract

The surplus approach to value and distribution represents an older and in this author's opinion much more relevant way to model capitalistic socio-economic systems than the mainstream neoclassical approach. This essay develops the analytical structure of the surplus approach by tracing its origins to the groundbreaking work of the circular flow concept in the Physiocrats and Quesnay's Tableau Economique, the Classical economists, Marx, and Piero Sraffa. Original archival material from the Sraffa Papers at the Wren Library, Trinity College, University of Cambridge is also presented in support of the thesis advance. Finally, the surplus approach is developed in terms of the distribution and growth nexus.

Cite this work

No public copy is stored for this record, so only the metadata is cited.

Stored only when both papers are in the corpus — 8 citations exist upstream.

Papers that cite the same references — the relational fallback while embeddings are still backfilling.