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David Ricardo: on the art of "elucidating economic principles" in the face of a "labyrinth of difficulties"

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  • Heinz D. Kurz

Abstract

The paper discusses David Ricardo's analytical achievements. These concern his approach to the theory of value and distribution; his analysis of the effects of different forms of technical progress on income distribution; his analysis of exhaustible resources in terms of differential rent; his discussion of machinery and induced technical progress; and his theory of foreign trade and the principle of comparative advantage. It is argued that Ricardo's analysis has been frequently misrepresented and is a great deal more sophisticated than is commonly acknowledged. There are still ideas in his writings that have yet to be fully explored.

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  • Heinz D. Kurz, 2015. "David Ricardo: on the art of "elucidating economic principles" in the face of a "labyrinth of difficulties"," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 22(5), pages 818-851, October.
    • Handle: RePEc:taf:eujhet:v:22:y:2015:i:5:p:818-851
    DOI: 10.1080/09672567.2015.1074713
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    Cited by:

    1. Freni, Giuseppe & Salvadori, Neri & Signorino, Rodolfo, 2019. "Structural change in a Ricardian world economy: The role of extensive rent," Structural Change and Economic Dynamics, Elsevier, vol. 49(C), pages 277-282.
    2. Heinz D. Kurz, 2017. "Is there a “Ricardian Vice”? And what is its relationship with economic policy ad“vice”?," Journal of Evolutionary Economics, Springer, vol. 27(1), pages 91-114, January.
    3. Kurz, Heinz D., 2018. "Stigler on Ricardo," Centro Sraffa Working Papers CSWP27, Centro di Ricerche e Documentazione "Piero Sraffa".

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