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Ricardo's Criticisms of Adam Smith

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  • Robert A. Macdonald

Abstract

I. The nature of value, 550. — A. Labor as a measure of value, 555. — B. Corn as a measure of value, 556. — C. Value and riches, 557. — D. "Real" wages: alterations in the wage-rate, 558. — E. Alterations in the wage-rate in relation to price, 559. — II. The productivity of different kinds of labor, 561. — III. Rent, 563. — A. The rent of land, 563. — B. Comparative value of gold, corn, and labor in rich and poor countries, 568. — IV. Profits, 571. — A. Relation between profits, wages, and capital, 571. — B. Profits and interest, 575. — V. Bounties, 576. — VI. Taxation, 579. — A. The tax fund — gross and net revenue, 579. — B. Incidence of a tax on the produce of land, 580. — C. Incidence of taxes on wages and necessaries, 581. — VII. Colonial and foreign trade, 583. — VIII. Summary and conclusion, 585.

Suggested Citation

  • Robert A. Macdonald, 1912. "Ricardo's Criticisms of Adam Smith," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 26(4), pages 549-592.
    • Handle: RePEc:oup:qjecon:v:26:y:1912:i:4:p:549-592.
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