The Debate on Machinery: Why Ricardo Misunderstood Malthus

Giuseppe Curreri ()
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Giuseppe Curreri: Università di Catania - Dipartimento di Economia e Metodi Quantitativi

History of Economic Ideas, 2006, vol. 14, issue 2, 33-52

Abstract: This paper deals with the machinery question in the writings of Ricardo and Malthus, focusing in particular on the consequences deriving from the transfer of circulating and fixed capital from one sector to another. Such a topic permits a deeper exploration of the two frameworks, by avoiding attributing their different views to the acceptance or not of Say’s Law ; in fact, in the case considered, Malthus supposes that demand is able to rise. Furthermore, from this particular point of view, the peculiar assumptions upon which Ricardo’s technological unemployment rests can be highlighted.

Date: 2006
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