Prices, Reproduction, Scarcity

Christian Bidard develops a theory of production prices that analyzes the exchange relationship between producers and consumers, emphasizing reproduction potential, rather than scarcity. Bidard compares and contrasts different studies of Sraffa's work and reviews the question of relationships between classical theory (Smith, Ricardo, Marx) and the general equilibrium theory (Walras, Arrow, Debreu). This simplified and extended translation of Prix, Reproduction, Rarete (Dunod, 1991) provides an essential reference on the topic of price and production relationships.