The “machinery question” was developed by the economist David Ricardo (1772–1823) in the chapter “On Machinery” added to the third edition of his Principles of Political Economy and Taxation (1821). This question related, in his words, to the “influence of machinery on the interests...

The distinction between ‘value’ and ‘riches’ was first highlighted by Ricardo in Chapter XX, ‘Value and Riches, their distinctive Properties’, of his Principles (1821). Ricardo’s aim was to clear up Smith’s famous statement that “every man is rich or poor according to the...

Schumpeter’s remarks on Ricardo’s criticisms of Smith’s system of thought (1954, p.472) can be further articulated by noting that while Ricardo’s most explicit and fundamental criticisms reach a climax in his chapter On Value, a number of explicit criticisms are concerned with apparently...

Ricardo’s criticisms of Adam Smith on value and wealth have been sometimes rejected and sometimes accepted in the period following the publication of his Principles. By contrast, they have been mostly ignored in the recent revivals of Ricardian economics both in the branch concerned with value...

ABSTRACT The controversies between Ricardo and Malthus reached a new peak when Malthus published his pamphlet The Measure of Value Stated and Illustrated and Ricardo responded by his critical Notes on Malthus’s ‘Measure of Value’ (1823 [1992]) and by a further round of correspondence with...

The notion of wealth appears and reappears in Ricardo’s works within three different sets of arguments. One is concerned with the distinction between wealth and value, another with the causes of the progress of wealth, the third with the consequences of this progress on the trend of natural...