Sraffa and Leontief on Joint Production

Abstract

This paper shows that results obtained in the Sraffian literature on joint production are relevant for input—output economists working in the tradition of Leontief. We concentrate upon the ‘adjustment’ property, i.e. the ability of a system to cope with any variation in final demand. We identify a number of systems which possess the adjustment property, with special attention to economies using fixed capital goods.

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