Ricardo and the Theory of Value Distribution and Growth

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Front Cover; Ricardo and the Theory of Value Distribution and Growth; Copyright Page; Contents; Preface and acknowledgments; Part I: Value and distribution; 1. Scope and method of the work; 1.1 The renewed interest in Ricardo's theory; 1.2 Scope of the work; 1.3 The concept of natural equilibrium in the Ricardian context; 2. Diminishing returns and the rate of profit in Ricardo's analysis; 2.1 Ricardo's theoretical analysis and the problems of his time; 2.2 Changes in real and money wages in Ricardo: the distributive antagonism as a dynamic problem

2.3 Effects on profits of changes in wages: two possible interpretations2.4 A theoretical framework for the analysis of price determination: a necessary prelude; 2.5 The effects of a change in wages on the aggregate amount and on the share of profits: the first interpretation; 2.6 The relation between money wages and the rate of profit: the second interpretation; 2.7 Wages and prices: Ricardo's criticism of Smith's theory; 2.8 The relation between the labour input in the production of corn and the rate of profit; 2.9 The rate of profit in the Ricardian model

2.10 Technological improvements and the declining rate of profitAppendix Properties of the Ricardian price model; Existence and uniqueness of the solution; Inverse relation between r and n1; Inverse relation between r and w; Effects on prices of a change in w; 3. Sraffa's standard commodity and Ricardo's theory of value and distribution; 3.1 Ricardo's search for an invariable standard of value; 3.2 The requisites of the invariable measure of value; 3.3 The invariable measure of value in the interpretation of Sraffa's 'Introduction'

3.4 Sraffa's standard commodity and Ricardo's invariable measure of value3.5 The standard system; 3.6 The intrinsic properties of the standard commodity; 3. 7 The properties of the standard commodity qua numeraire; 3.8 The standard commodity and the analysis of price changes; 3.9 The notion of in variance per se of the standard commodity; 3.10 The existence of the standard commodity in the Ricardian model with ftxed capital; 3.11 The standard commodity and the requisites of Ricardo's invariable measure of value; Appendix Changes in distribution and relative prices

The case of a generic numeraireThe case of the standard commodity; A comparison with the results of the Ricardian price model; Part II: Growth and distribution; 4. Pasinetti's formulation of the Ricardian system; 4.1 Introductory remarks; 4.2 The concept of 'point natural equilibrium' used by Pasinetti; 4.3 The hypotheses of the model; 4.4 Distribution of output and Say's law; 4.5 Natural and market equilibrium; 4.6 The behaviour of distributive shares in the process of capital accumulation; 5. A one-sector Ricardian model; 5.1 Introductory remarks; 5.2 The equilibrium model

5.3 The relation between the rates of growth of income and capital

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