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The Second Interlude

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Abstract

In Chap. 4, I mentioned that there are two decade-long breaks in Staffa’s notes. The second break came soon after 1944 and continued until 1955 (although in this case, a few notes written from 1945 to 1948 have survived). In the interim period, however, a major event happened. In 1951 the long awaited Works and Correspondence of David Ricardo in eleven volumes started to come out of the Cambridge University Press. Leaving aside the quality of Sraffa’s editing work, which was universally hailed as the work that set the standard for such future works and brought Sraffa the great honor of being awarded the Söderström gold medal of the Royal Swedish Academy of Science,, a notable feature of this publication was the ‘Introduction’ to volume one written in collaboration with Maurice Dobb. This ‘Introduction’ brought about a change in the interpretation of Ricardo’s Principles in a subtle but substantial way. As we have already noted in Chap. 4, there are no preparatory notes for this ‘Introduction’ available in Sraffa’s files, only the final galley-proof. Given that, in Sraffa’s own words, ‘by the summer 1940, six volumes of the present edition had been set up in page-proof, while the volume of Speeches and Evidence had reached the stage of galley-proofs’ (Sraffa 1951, p. ix), one would expect that Sraffa must have had at least a rough draft of the ‘Introduction’ ready by then. Moreover, given that Sraffa had a habit of writing several drafts of any piece he readied for publication, there is no doubt in my mind that there must have been several drafts of the ‘Introduction’ written over a number of years. As a matter of fact, in a response to Keynes’s letter of 26 March 1943, in which Keynes showed his extreme frustration with the whole project dragging on for so long, Sraffa reported that ‘of the Introductions, all those which must go in the middle of a volume are ready: the others (three of them) go at the beginning of volumes and can be printed later, on pages with roman numerals. On these I have done much work, and drafted parts over and over again: all the materials is collected, but it is the drafting of the Introductions that has been holding up the whole thing.’ (D3/11/65: 26, dated 31 March 1943). No sign of these ‘drafts’ are available in Sraffa’s files. Had any been available to us it could have given us a direct glimpse of how Sraffa’s interpretation of Ricardo evolved or changed over the two decades of the 1930s and 1940s. In any case, below I try to develop a sketch of the evolution of Sraffa’s interpretation of Ricardo over time.

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Notes

  1. 1.

    The letter to Sraffa by the secretary of the Royal Swedish Academy of Science stated that the medal was awarded ‘in recognition of your eminent achievement in publishing the works of David Ricardo, thereby penetrating deeply into Ricardo’s thoughts and presenting them in a clear critical analysis. Since its institution nearly sixty years ago, this medal has only been awarded seven times; among the recipients one could mention Gustav Cassel, Eli Heckscher, J.M. Keynes and Gunnar Myrdal. ’ (B17/1: 6).

  2. 2.

    In his review of this work, George Stigler (1953) wrote: ‘Others may be uncomfortable as I at undiluted praise, and perhaps one should criticize Sraffa for the insertion of an erroneous “not” (VIII, 359) or argue the irrelevance of the splendid tale of Mr. — (III, 427ff.) in order to emphasize more subtly the superlative quality of the scholarship. But usual rules must bow to unusual events: here is a task that need not be performed again.’ (p. 587).

  3. 3.

    TThe arguments in this chapter have also been presented at various levels of developments in Sinha (2010a,c and 2016).

  4. 4.

    In several conferences my argument has been challenged on the ground that ‘how can one develop a theory of change in a variable without knowing how its value at a given point is determined?’ The answer to this question is simple. A physicist may not have a theory to determine the speed of a projectile at any precise point but still have a theory to predict the rate at which its speed (whatever that might be) would be changing. Similarly, one can claim that the speed of a car would slow down after the application of the brake or an increase in the incline of the road, other things being equal—one does not need to know how to determine the speed of the car at any point of time to be able to make such predictions.

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Sinha, A. (2016). The Second Interlude. In: A Revolution in Economic Theory. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-319-30616-2_6

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  • DOI: https://doi.org/10.1007/978-3-319-30616-2_6

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