David Ricardo’s criticisms of Adam Smith on value and wealth have been rather ignored in the recent revival of Ricardian economics. This essay intends to fill the gap by revisiting Smith’s link between value and wealth in the light of Ricardo’s criticisms. This is done in two steps. The...

The present paper establishes a general picture of Say's economic thought. The first part provides a general view of Say's writings stressing his economic publications other than the Traite, and the non-economic publications covering two other realms of what was labelled the Sciences morales et...

The paper discusses the analyses of technical progress, capital accumulation and income distribution elaborated by three major classical economists: Adam Smith, David Ricardo and Karl Marx. The interpretation given is partly inspired by Piero Sraffa's studies in his hitherto unpublished papers....

Due to a better understanding of the logical interrelationships between the comparative- advantage proposition, the classical rule of specialization and the proposition regarding the non- appliance of the labor theory of value in international exchanges in Ricardo’s famous numerical example in...

La historia del crecimiento económico se remonta a los primeros clásicos como Adan Smith, David Ricardo y Thomas Malthus, estos economistas desarrollaron el tema del crecimiento he introdujeron conceptos como; rendimientos decrecientes y su relación con la acumulación de capital físico o...

With the famous numerical example of chapter 7 of the Principles David Ricardo intended to illustrate first and foremost the new proposition that his labor theory of value does not regulate the price of international transactions when the factors of production are immobile between countries....

The theory of comparative advantage is widely misunderstood to demonstrate the universal superiority of free trade. In fact, the theory depends upon a number of key assumptions and fails if they are relaxed. Empirically, many of these assumptions are highly questionable, if not demonstrably...