The theory of ophelimity in closed and open cycles proposed by Pareto following Volterra’s observations is examined. Although these were oriented towards identification of the integrability conditions, Pareto shows no interest in them, but in the problem of the measurement of the elementary...

Ricardo’s argument on machinery seems to deal both with technical progress and with the substitution of machines for circulating capital. However, they produce different effects, which are to be distinguished and analysed. Two models are introduced: in the first model, there is technical...