Richard Edward Sraffa

Richard Edward Sraffa was an influential Italian economist known for his work in the early 20th century. He is best recognized for his critique of classical economics and his contributions to the theory of production and distribution. Sraffa challenged the mainstream views of his time, particularly with his 1960 book, "Production of Commodities by Means of Commodities," which argued that prices and profits are determined by production processes rather than solely by supply and demand. His ideas laid the groundwork for the Italian school of thought and influenced later economists, including the development of post-Keynesian economics.