This note discusses the numerical examples of land saving and capital saving agricultural improvements Ricardo provided in the chapter on the rent of land in the Principles. Especially his illustration of the second kind of improvements met with fierce criticism. It is argued that Ricardo was...

Pasinetti's [Pasinetti, L.L., 1960. A mathematical formulation of the Ricardian system. Review of Economic Studies 27, 78-98] model formalizing Ricardian growth theory and one of the simplest models developed within the 'new' growth theory [Rebelo, S., 1991. Long run policy analysis and long run...

type="main" xml:id="sjpe12040-abs-0001" <title type="main">Abstract</title> <p>This article analyses Adam Smith's views on monopoly by focusing on Book IV and V of The Wealth of Nations. It argues that the majority of scholars have assessed Smith's analysis of monopoly starting from premises different from those, actually...</p>