For almost a decade I have been trying to put forward an alternative interpretation of the works of Piero Sraffa, particularly his book (Sraffa 1960). This interpretation of mine was first put forward in a chapter on Sraffa in my first book titled Theories of Value from Adam Smith to Piero Sraffa (Sinha 2010) and later in a more comprehensive book on Sraffa titled A Revolution in Economic Theory: The Economics of Piero Sraffa (Sinha 2016). Both these works have come under heavy criticisms from the established ‘Sraffian’ quarters. In this paper, I try to respond to those criticisms.
Keywords: Sraffa, prices, centre of gravitation, Commodity residue, Uniform rate of profits