Ricardo's Theory of Growth and Accumulation: A Modern View (The Graz Schumpeter Lectures)

In the aftermath of the Napoleonic Wars Britain found itself faced with a stagnant economy. Economist David Ricardo believed that the full re-integration of Britain into the world market would allow for both capital accumulation and population growth, and used arguments that anticipate ideas entertained in modern contributions to the theory of economic growth and development. However, several of these arguments have not yet been translated into the language of modern classical economics. Ricardo's Theory of Growth and Accumulation seeks to overcome this striking lacuna. The latest entry in the Graz Schumpeter lecture series, this text explores and elaborates Ricardo's arguments and the models utilized by those who subsequently followed in support of his work. The Ricardian system is first examined through a one-sector economy, following Kaldor's model, and a two-sector economy, following Pasinetti's model. These building blocks are developed through the exploration of a small open economy, which allows an analysis of the impact of international trade in exceedingly simple circumstances. This discussion expands further by considering the world economy. More sophisticated variants of the two-sector model are presented, in which commodity prices are endogenously determined by the trading interplay amongst several countries. A final analysis makes Ricardo's case by introducing accumulation in the world economy. This book is of interest to students and scholars of Ricardo, classical economics, and - more broadly - growth theory, the theory of international economics, and globalization. The author was keen to render the analytical parts compelling to the historian and the historical parts compelling to the theorist.

Business & Money

Salvadori, Neri

Economics

Routledge

Revisiting Classical Economics (Routledge Studies in the History of Economics)

Kurz, Heinz

Competition, Value and Distribution in Classical Economics (Routledge Studies in the History of Economics)

Drawing in particular on the work of Sraffa, Smith, Ricardo and Marx, the essays in this volume explore the characteristic features of the Classical economists' approach to economic problems, and the renewal of interest in that approach in modern times.In recent years, new material has been made available on both Sraffa and Marx which have made new insights and interpretations possible. The release of Sraffa's hitherto unpublished papers and correspondence has led to reconsideration of doctrinal questions such as to what extent Sraffa built upon, or deviated from the analyses of Adam Smith, David Ricardo and other representatives of the classical British school and Karl Marx. A major theme is also to what extent we can today, equipped with Sraffa's insights and analytical tools, re-interpret and develop ideas of classical authors, which they could present only in primitive forms, on technological progress, exhaustible resources and other contemporary issues. On Marx, the publication of the MEGA2 edition of the works, papers and correspondence of Marx and Engels also gives rise to a reconsideration of this relationship, given Marx's disenchantment with some of his own work and return to ideas advocated by Ricardo, especially as regards the long-term tendency of the rate of profits. Finally, the classical notion of competition and monopoly deserve to be scrutinized carefully again and frequent misinterpretations in the literature refuted.This volume is vital reading for scholars of classical economics, Marx and Sraffa, and the history of economic thought more broadly. It also deals with issues in the areas of machinery and technical progress, joint production, and economic development and growth.

Kurz, Heinz D.

The 'classical' approach to economic problems, which can be traced back to Adam Smith and David Ricardo, has seen a remarkable revival in recent years. The essays in this collection argue that this approach holds the key to an explanation of important present day economic phenomena. Focusing on the analytical potentialities of classical economics, the contributors illustrate how an important element of understanding its approach consists of developing and using its explanatory power.

Understanding 'Classical' Economics: Studies in Long Period Theory (Routledge Studies in the History of Economics)

First Published in 2007. Routledge is an imprint of Taylor & Francis, an informa company.

Interpreting Classical Economics: Studies in Long-Period Analysis (Routledge Studies in the History of Economics)

The financial crisis and the economic crisis that followed triggered a crisis in the subject of economics, as it is typically being taught today especially in macroeconomics and related fields. A renewed interest in earlier authors, especially the classical economists from Adam Smith to David Ricardo and John Maynard Keynes, developed. This book may also be seen as a response to this interest. What can we learn from the authors mentioned, what we could not learn from the mainstream? This volume contains a selection of essays which deepens and widens the understanding of the classical approach to important problems, such as value and distribution, growth and technical progress, and exhaustible natural resources. It is the fourth collection in a row and reflects an on-going discussion of the fecundity of the classical approach. A main topic of the essays is a comparison between the classical approaches with modern theory and thus an identification of what can be learned by elaborating on the ideas of Smith and Ricardo and Marx above and beyond and variously in contradiction to certain mainstream view. Since the work of Piero Sraffa spurred the revival of classical economic thought, his contributions are dealt with in some detail. The attention then focuses on economic growth and the treatment of exhaustible resources within a classical framework of the analysis.

Revisiting Classical Economics: Studies in Long-Period Analysis (Routledge Studies in the History of Economics)

The 'classical' approach to economic problems, which can be traced back to Adam Smith and David Ricardo, has seen a remarkable revival in recent years. The essays in this collection argue that this approach holds the key to an explanation of important present day economic phenomena. Focusing on the analytical potentialities of classical economics, the contributors illustrate how an important element of understanding its approach consists of developing and using its explanatory power.

Understanding 'Classical' Economics (Routledge Studies in the History of Economics)

Kurz, Heinz D. D.

Theory of Production: A Long-Period Analysis

This book contains a comprehensive treatment of the theory of production in a long-period framework. The issues dealt with include prices and income distribution, economic growth, joint production, fixed capital, scarce natural resources (both renewable and exhaustible), and heterogeneous labor. The issues are treated analytically; in addition, the book's introduction provides a history of the subject.

Cambridge University Press

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Books by Salvadori, Neri

See the best price to sell, buy, or rent books by Salvadori, Neri. BookScouter helps to compare book prices from 25+ online bookstores and 30+ buyback vendors with a single search.

Ricardo's Theory of Growth and Accumulation: A Modern View (The Graz Schumpeter Lectures)

Ricardo's Theory of Growth and Accumulation: A Modern View (The Graz Schumpeter Lectures)

Revisiting Classical Economics (Routledge Studies in the History of Economics)

Competition, Value and Distribution in Classical Economics (Routledge Studies in the History of Economics)

Competition, Value and Distribution in Classical Economics (Routledge Studies in the History of Economics)

Understanding 'Classical' Economics: Studies in Long Period Theory (Routledge Studies in the History of Economics)

Interpreting Classical Economics: Studies in Long-Period Analysis (Routledge Studies in the History of Economics)

Revisiting Classical Economics: Studies in Long-Period Analysis (Routledge Studies in the History of Economics)

Understanding 'Classical' Economics (Routledge Studies in the History of Economics)

Theory of Production: A Long-Period Analysis