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Neo-Ricardian Theory of Value and Distribution: A Critique

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  • M. Bodrikov

Abstract

The article considers the main propositions of Neo-Ricardian interpretation of the classical approach to the problem of pricing. The author shows that in normal (long-term) economic conditions commodity prices do not depend on the conditions of income distribution. The impossibility to explain rate of profit within the framework of the model of "standard system" is shown. The author concludes that neo-Ricardian "price distribution effects" and criticism of Neoclassical concept of capital are incorrect.

Suggested Citation

  • M. Bodrikov, 2007. "Neo-Ricardian Theory of Value and Distribution: A Critique," Voprosy Ekonomiki, NP Voprosy Ekonomiki, issue 5.
    • Handle: RePEc:nos:voprec:y:2007:id:1608
    DOI: 10.32609/0042-8736-2007-5-138-154
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