Quotes about ricardo Quotes
7 quotes
"It is David Ricardo's unique position in history that he was an innovating force in both capitalist and socialist thought."
"The factors left out of the Ricardian equation are falling wages and idle capacity."
"Ricardo existed at a particular point when English history was going round a corner so sharply that the progressive and the reactionary positions changed places in a generation. He was just at the corner where the capitalists were about to supersede the old landed aristocracy as the effective ruling class. Ricardo was on the progressive side. His chief pre-occupation was to show that landlords were parasites on society. In doing so he was to some extent the champion of the capitalists. They were part of the productive forces as against the parasites. He was pro-capitalist as against the landlords more than he was pro-worker as against capitalists (with the Iron Law of Wages, it was just too bad for the workers, whatever happened)."
"Ricardo himself was too conscientious. He hated having to fiddle the assumptions. Right up to his dying day he was looking for the assumption, that would not need to be fiddled."
"David Ricardo is without doubt the greatest representative of classical political economy. He carried his work begun by Smith to the farthest point possible without choosing one or the other of the roads which led out of the contradiction inherent in it."
"Ricardo does understand, and better than Smith, that a good’s price is proportional to its marginal labour cost. But that saves only the face of his verbalistic labour theory of value and not his substantive theory. As soon as changed composition of demand for goods alters endogenously marginal labour embodiments, nothing substantive is left of the labour theory of value."
"It is, perhaps, a well founded objection to Mr. Ricardo, that he sometimes reasons upon abstract principles to which he gives too great a generalization."