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Robert Torrens e a teoria clássica do lucro [Robert Torrens and the classical theoyr of profits]

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  • Rogério Arthmar

    (UFES)

Abstract

This paper reconstructs the evolution of Colonel Robert Torrens' theory of profits based on its critique of the Ricardian theory of value. Initially, it describes the attack conducted by him on the idea of the amount of labor being the sole factor to regulate mercantile exchanges. After that, McCulloch's and Ricardo's arguments in defense of this principle are presented. It continues by examining the origins of Torren's systemic approach to profits, based on the reciprocal interdependence of the productive sectors. Next, the applications of such theory carried out by the Colonel are considered, especially the support for free trade. Finally, it highlights the pioneer character of his approach to profits within the overall setting of classical economics.

Suggested Citation

  • Rogério Arthmar, 2014. "Robert Torrens e a teoria clássica do lucro [Robert Torrens and the classical theoyr of profits]," Nova Economia, Economics Department, Universidade Federal de Minas Gerais (Brazil), vol. 24(3), pages 671-684, September.
    • Handle: RePEc:nov:artigo:v:24:y:2014:i:3:p:671-684
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    More about this item

    Keywords

    classical economics; labor theory of value; profit rate; free trade;
    All these keywords.

    JEL classification:

    • B10 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - General
    • B12 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Classical (includes Adam Smith)
    • B16 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Quantitative and Mathematical

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