How has an analysis of prices of production been used to construct a critique of bourgeois economics?
By showing that given their own assumptions, Neoclassical economists lack any sound conceptual basis for establishing the existence of markets, particularly factor markers, with well-behaved supply and demand relationships. Thus, Neoclassical economists have yet to show that an equilibriation of supply and demand, as conceived in Neoclassical economics, can explain prices. This critique was promoted among academic economists by the Neo-Ricardian or Sraffian school in what has become known as the Cambridge Capital Controversy (Harcourt 1972). Neoclassical economists have responded to this critique by: • Encouraging ignorance of the economics literature, the history of thought, and scholarship in general so as to ignore the critique. • Misrepresenting the critique as addressing only the measurement problem of constructing an adequate index number for capital. • Discarding long run Neoclassical theories, aggregate macroeconomic theories, and the marginal productivity theory of distributio
