Theories of Value from Adam Smith to Piero Sraffa

"Ajit Sinha’s Theories of Value from Adam Smith to Piero Sraffa exemplifies the best characteristics of proper scholarship. Sinha has combined critical yet sympathetic analysis of primary sources with keen understanding of the secondary literature. He has definite points of view which are always established by deep analytical arguments combined with careful attention to the relevant evidence. His book is a splendid example for all those interested in the best ways of understanding the relevant links between the past of our discipline and the present." — G.C. Harcourt, Emeritus Reader in the History of Economic Theory, University of Cambridge; Professor Emeritus, University of Adelaide; Emeritus Fellow, Jesus College, University of Cambridge

"The excess confidence of contemporary economists in the strength of the existing body of their knowledge has been struck by the recent crisis. The same excess confidence had often fed the belief that the history of ideas did not matter. In fact, the understanding of the limits of any knowledge in the field of social sciences cannot be separated from the understanding of the conditions of its construction. The work of Ajit Sinha, as conveyed in the present book, provides a brilliant illustration of the fact that the history of economic thought, on the one hand, and economic analysis, on the other, are neither antagonistic, nor substitutes, but necessary complements." — Roger Guesnerie, Chair, Economic Theory and Social Organisation, Collège de France, Paris; Founding President, Paris School of Economics

"This excellent book will be of interest to a wide range of scholars, especially historians of economic thought, and also heterodox economists in general. … I learned a good deal from reading this book, especially about Sraffa’s theory, and I recommend it highly despite my disagreements with some of its interpretations, especially about Marx’s theory. The quality of scholarship is high throughout. Sinha states in the Preface that he hopes that his book will be particularly useful for graduate students and young scholars, and I think it will be." — Fred Moseley, Review of Political Economy

"Readers of Ajit Sinha can look forward to a lively and engaging discourse that displays the author’s meticulous scholarship and breadth of vision. Both graduate students and teachers of political economy will find in the book an excellent reader on the state of the art in classical and Marxian theories of prices. They are also themes that we may hope will shape the future course of economic science." — G. Omkarnath, Economic and Political Weekly