Nobel laureate in economics Vernon Smith (Chapman University, USA) and Emiliano Brancaccio (Università del Sannio, Italy) discuss the Classics, Marx and Sraffa.
A summary of the plenary session of the DySES Conference held at the NEOMA in Rouen on 5 October 2022 – Plenary session. Chair: Alessio Ishizaka (NOEMA BS, Rouen) and Massimo Squillante (Università del Sannio, Italy). Introduction: Michael Campbell (SAP Research, Germany). Lecture by Vernon Smith: “Propriety, Property, and Price Discovery in Adam Smith and Classical Economics”. Discussant Emiliano Brancaccio: “Vernon Smith needs Sraffa”
(further information on the conference and the whole plenary session here: https://neoma-bs.com/faculty-and-research/research/dyses2022-conference/)
A SUMMARY OF THE SESSION:
FLYER AND PHOTOS OF THE SESSION:
“[…] I can assume that Vernon Smith considers the first feature quite familiar while he may feel distant from the other Marxian and Keynesian features of this renewed classical approach. After all, Prof. Vernon Smith has remarked that he came to Adam Smith and the Classics through reading Hayek. Instead, we propose here a link that passes through Sraffa, who was an admirer of Marx and also the author of a famous and effective critique of Hayek’s theory of prices. There are, however, two reasons why we hope that Professor Vernon Smith will consider the modern versions of the classical approach not in separate pieces but in the only way they can be logically consistent: that is, as a whole […]” (Emiliano Brancaccio)
“I particularly appreciated Brancaccio’s comment on an important Italian like Sraffa. Inoua and I – and this is largely his work – we will have a second book out on classical economics that will deal with the followers of Adam Smith: the French and the Italian, as well as English followers of Adam Smith can bring an important contribution, a very important one” (Vernon Smith)