The Cambridge Controversy. A note
A debate, which started at the late 1950s and lasted up to the early 1970s, known as the Cambridge controversy, is the subject of this paper. The core of that debate was the composition of capital and moreover the production and the reproduction of commodities. The “roots” of the Cambridge Controversy can be found in the literature of K. Marx and D. Ricardo. However both schools of thought have underestimated the important role of price normalization, leaving the problem of choosing techniques unexplained.