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on the parking lot side of the merry-go-round is the wooden rollo coaster, built by philadelphia toboggan in 1938 with lumber from the park, using a sawmill built nearby specifically for the project.
on the parking lot side of the merry-go-round is the wooden rollo coaster, built by philadelphia toboggan in 1938 with lumber from the park, using a sawmill built nearby specifically for the project.

how to analyse such a system? the ingenious device of the classical authors to see through the complexities of the modern economy consisted in distinguishing between the ‘actual’ values of the relevant variables – the distributive rates and prices – and their ‘normal’ values. the former were taken to reflect all kinds of influences, many of an accidental or temporary nature, about which no general propositions were possible, whereas the latter were conceived of as expressing the persistent, non-accidental and non-temporary factors governing the economic system, which could be systematically studied. the method of analysis adopted by the classical economists is known as the method of ‘long-period positions’ of the economy. any such position is the situation towards which the system is taken to gravitate as the result of the self-seeking actions of agents, thereby putting into sharp relief the fundamentalforces at work. in conditions of free competition the resulting long-period position is characterized by a uniform rate of profits (subject perhaps to persistent inter-industry differentials reflecting different levels of risk and of agreeableness of the business; see kurz and salvadori, 1995, ch. 11) and uniform rates of remuneration for each particular kind of primary input. competitive conditions were taken to engender cost-minimizing behaviour of profit-seeking producers. alfred marshall(1920) had interpreted the classical economists as essentially early and somewhat crude demand and supply theorists, with the demand side in its infancy. it was this interpretation and the underlying continuity thesis in economics that sraffa challenged. as he showed, the classical economists' approach to the theory of value and distribution was fundamentally different from the later marginalist one, and explained profits in terms of basically two data:(a) the system of production in use and (b) a given real wage rate (or, alternatively, a given share of wages). profits (and rents) were thus conceived of as a residual income. whereas in marginalist theory wages and profits are treated symmetrically, in classical theory they are treated asymmetrically. on a still deeper methodological level the divide between the classical and the later marginalist authors could hardly be more pronounced. while the classical authors took the economic system to exist independently of the single agent and actually exert a considerable influence upon the latter depending upon the role ascribed to him as worker, capitalist or landowner, the marginalist authors advocated one version or another of ‘methodological individualism’, which takes a set of assumedly optimizing agents who exist independently of the system as a whole and who shape the system rather than the other way round. let us now examine more closely the scope, content and analyticalstructure of classical theory. the classical economists proceeded essentially in two steps. in the first step they isolated the kinds of factors that were seen to determine income distribution and the prices supporting that distribution in specified conditions, that is, in a given place and time. the theory of value and distribution was designed to identify in abstracto the dominant factors at work and to analyse their interaction. in the second step they turned to an investigation of the causes which over time affected systematically the factors at work from within the economic system. this was the realm of the classical analysis of capital accumulation, technical change, economic growth and socio-economic development.
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