A Comment on" This Age of Leontief... and Who?"

Abstract

Levine claims that Sraffa has been misunder- stood on issues concerning, "(1) [the] use of pro- duction coefficients and the question of returns to scale, (2) the centerpiece of the price-deter- mining apparatus, (3) numeraire problems, (4) consumer demand, and (5) Sraffa's place in the classical tradition" [4, 1974, p. 877]. Unfortu- nately, Levine's discussion of (1), (2), and (3) is incomplete, and below I will attempt to set the record straight on these important issues; I re- frain from comment on (4) and (5) because of limited space...