Introduction

This volume is the fifth in a series of collections of essays written by the two of us, by one of us alone, or by one or the two of us with some other author. Each collection reflects the discussions we were and still are involved in regarding the characteristic features of the Classical economists’ approach to economic problems and those working in their tradition and the ongoing relevance of this approach. The focus of attention is on its genuine significance, analytical structure, and explanatory power; its resumption in modern times especially by Piero Sraffa; and its difference from the marginalist or neoclassical approaches.