This paper disproves Ricardo's simple relation between cost and price. Instead, it shows that a more valuable worker may lead to lower price, or more quantity and profit. This paper also shows that practicing Ricardo's simple-minded logic is despotic with suicidal result, and that its...

From 1915 to 1935 the inventive community of social scientists at the University of Chicago pioneered empirical research and a variety of qualitative and quantitative methods, shaping the future of twentieth-century American sociology and related fields as well. Martin Bulmer's history of the...