The well-known enduring controversy on the interpretation of Ricardo's wage theory, and by implication on classical … wages in classical economists, offering a somewhat unusual perspective. I contend that there are major similarities between … theory of wages in Ricardo and other classical economists, namely, the meaning of 'demand for labour' in classical thought. I …

the Classical notion of free competition: while the former may be described as an equilibrium state in which atomistic … strategically. We show that price undercutting or outbidding are the typical phenomena that, for the Classical authors, may be … perfect competition and we reconstruct the Classical theory of free competition, as developed, in particular, by Adam Smith …

The paper seeks to fill a lacuna within Classical economics concerning the process of market price determination in a … short-period equilibrium. To this aim, first we distinguish the Classical notion of free competition from the Walrasian … differences between the Classical notion of competition and contemporary game-theoretic oligopoly models …