Sraffa And Keynes on the concept of commodity rates of interest

naldi, nerio;

This paper considers how Keynes and Sraffa in December 1931 disagreed on the definition of the concept of commodity rate of interest that was to appear in Sraffa�s review of Hayek�s Prices and Production. An analysis of that disagreement, which emerges from two letters sent by Keynes to Sraffa, also allows us to see that Sraffa�s
1932 definition and the definition adopted by Keynes in Chapter 17 of the General Theory are not the same, and to examine the peculiarities of Sraffa�s approach and of the definition of commodity rates of interest put forward by Keynes both in his 1931 discussion with Sraffa and in the General Theory.