Profits Depend on Wages’
Ricardo's Principle and Its Early Demise
Bibliographic Data
| ID | 11697342 |
|---|---|
| Authors | Giancarlo De Vivo (corresponding author) |
| Year | 2018 |
| Volume | 37 |
| Issue | 1 |
| Pages | 89-104 |
| Publication date | 2018-01-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Contributions to Political Economy (JOURNAL) |
| Journal identifiers | ISSN: 0277-5921 • E-ISSN: 1464-3588 |
| Publisher | Oxford University Press (OUP) (PUBLISHER) |
| DOI | 10.1093/cpe/bzy005 |
| OpenAlex | W2803358956 |
| Language | EN |
| References cited | 13 |
The present paper deals with one of the most important principles of Ricardo's theory: namely, the idea that profits ‘depend on wages’ and only on wages, varying inversely with them. After an examination of the actual contents of this principle in Ricardo, and its relationship with his theory of value, we discuss first the dispute about the principle between Ricardo and Malthus, then its progressive abandonment by Ricardo's self-appointed ‘genuine disciples’, J.R. McCulloch and James Mill, under the influence of Torrens and of Bailey. We argue that de Quincey is the only Ricardian to steadfastly keep to Ricardo's principle
Abandonment (legal · Classical economics · Demise · Economics · Epistemology · Mathematical economics · Mill · Neoclassical economics · Political science · Value (mathematics · Value theory · Economic Theory and Institutions · Economic Theory and Policy · Mathematics · Political Economy and Marxism · Law · Philosophy
Value and Distribution in the Classical Economists and Marx 1
Economic Controversy in the British Reviews, 1802-1850
Notes on Marx's Critique of Ricardo
Thomas De Quincey and Ricardian Orthodoxy
The Ricardian Theory of Profits
A History of the Theories of Production and Distribution in English Political Economy from 1776 to 1848
Principles of Economics
Classical and Marxian Political Economy
A History of the Theories of Production and Distribution in English Political Economy, from 1776 to 1848
The Economics of David Ricardo
Criticism of Ricardian Views on Value and Distribution in the British Periodicals, 1820-1850
The Economics of David Ricardo
| Citation velocity | historical |
|---|---|
| Highly cited | No |