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Schumpeter’s remarks on Ricardo’s criticisms of Smith’s system of thought (1954, p.472) can be further articulated by … have dealt with Ricardo’s or Smith’s systems of thought in recent years. Among these recent authors are Peach (1993, 2008 … of Ricardo’s criticisms of Smith’s argument but will reach for the analytical foundations both of these criticisms and of …
Persistent link: https://www.econbiz.de/10009025263
In his Wealth of Nations (1776) Adam Smith created an agenda for the study of the economy that is reflected in the … structure of modern economics. This paper describes Smith's contributions to four central areas of economic theory: The theory … economy, and the sources of economic growth. In each case, an attempt is made to relate Smith's contribution to the state of …
Persistent link: https://www.econbiz.de/10013054488
The paper proposes a rational reconstruction of the arguments developed by Malthus and Ricardo in their 1815 essays … choosing the former. By contrast, Ricardo excluded any alternative between defence and opulence: trade does note give a …
Persistent link: https://www.econbiz.de/10011107718
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
That Malthus was guilty of egregious error in his claim to have established the labor-commanded magnitude as an "invariable" unit of value is well-known. Even his modern biographer could appeal only to a "kink or a crotchet, some kind of cerebral block" to excuse Malthus's persistent failure to...
Persistent link: https://www.econbiz.de/10005150901
In this paper the view of humankind and nature upon which the thinking of Malthus is founded will be reflected on and contrasted with the opposed understanding of his contemporary Wordsworth. We show that the economic considerations of both are based decidedly on the premise of these views, and...
Persistent link: https://www.econbiz.de/10003245576
When we take seriously Smiths's oft-expressed admiration for the "beauty of a systematical arrangement of different observations connected by a few common principles" (WN, V.i.f.25) and seek those"connecting principles" within his own system of thought, his "positive index of welfare" loses its...
Persistent link: https://www.econbiz.de/10005835362
While there can be no disputing Smith's clear intent to employ his labor-commanded unit as a medium of value measure …
Persistent link: https://www.econbiz.de/10005835382
In this paper the view of humankind and nature upon which the thinking of Malthus is founded will be reflected on and contrasted with the opposed understanding of his contemporary Wordsworth. We show that the economic considerations of both are based decidedly on the premise of these views, and...
Persistent link: https://www.econbiz.de/10011422113