Piero Sraffa

Piero Sraffa was an Italian economist known for his contributions to economic theory, particularly in the early 20th century. He challenged traditional views on how prices and production are determined in an economy, focusing on the relationships between different goods rather than individual consumer choices. His key work, "Production of Commodities by Means of Commodities," highlighted the role of inputs and outputs in production processes. Sraffa's ideas influenced later economists, including those in the Marxist tradition, and contributed to discussions on value, price formation, and the nature of capital in economics.