Showing 1 - 10 of 4,033
In order to extend the theory of value and the trade-off property to economic systems with lands, Ricardo reduced their …
Persistent link: https://www.econbiz.de/10010896333
We propose to re-read Ricardo's theory of rent and its modern versions. Ricardo's dynamic approach follows the … studies have cast doubts on the validity of some of Ricardo's and Sraffa's over-optimistic conclusions, but the abandonment of … the dynamic approach does not allow them to explain the ultimate reason of the phenomena they have pointed at. Ricardo …
Persistent link: https://www.econbiz.de/10010960388
We study the economic mechanism which sustains the substitution of a marginal method for another when demand increases, in the presence of scarce resources. In those Ricardian dynamics, it is shown that the outgoing method is determined by the quantity side of the problem, the incoming method by...
Persistent link: https://www.econbiz.de/10010593346
of land or a mine, which was indeed the way in which rent was treated in bargaining between landowner and tenant. The …The classical economists usually regarded rent in their analyses as a share of the gross product obtained from the use … paper revives this view of rent, proceeding from its historical basis through Smith’s analysis to arrive at Sraffa …
Persistent link: https://www.econbiz.de/10011259126
allows us to point at two limits of Ricardo's construction, first in his attempt to get rid of rent in the analysis of … agriculture are determined by means of a rule which has never been stated explicitly by Ricardo's commentators. But the rule also … criterion is at the basis of Sraffa's mistake in his reconstruction of the theory of rent, whereas post-Sraffian formalizations …
Persistent link: https://www.econbiz.de/10010896304
consequences of this progress on the trend of natural wages, profit and rent. Ricardo deals with these subjects sometimes in … resulting conclusions on the trend of natural wages, profits and rent. This entry will focus on the details of Ricardo … owner of land “for the use of its original and indestructible powers”. These criticisms are consistent with Ricardo …
Persistent link: https://www.econbiz.de/10011112530
David Ricardo’s key place in the history of economic thought is well established. However, both the understanding of … two extremely divergent interpretations of Ricardo’s place in the development of economic thought. Understanding how … Ricardo has been viewed in Cambridge does not result in homogeneity, but in a spectrum of interpretations. In this paper, we …
Persistent link: https://www.econbiz.de/10010751333
This paper discusses the relation between law and contingency in the formation of value. It begins from a much-ignored assertion of Marx, repeated throughout his works, that the equality of supply and demand is contingent and their non-equality constitutes their law. This highly complex and...
Persistent link: https://www.econbiz.de/10005789658
The “machinery question” was developed by the economist David Ricardo (1772–1823) in the chapter “On Machinery” added … entertained by the labouring class, that the employment of machinery is frequently detrimental to their interests”. Ricardo … Ricardo’s argument and in subsequent interpretations. …
Persistent link: https://www.econbiz.de/10008561134
its first description can be traced back to the nineteenth century economist David Ricardo. …
Persistent link: https://www.econbiz.de/10010896317