Marx on Ricardo: an explanation of some important misunderstandings

Eberhard Feess ()

The European Journal of the History of Economic Thought, 1998, vol. 5, issue 2, 276-291

Abstract: Ricardo's theory of value and distribution is reconstructed by proceeding along the lines of Marx's critique of Ricardo. It is thus an anti-critique of Marx's reading of Ricardo. The chapter 'On Value' in Ricardo's Principles is shown to be a consistent and rigorous treatment of the determinants of prices of production. According to Ricardo labor-values merely serve to approximate more elaborate standards of value. Marx's criticism is shown to rest crucially on his own misinterpretation of Ricardo's definitions and presupposes his own - faulty - theory of surplus value. Therefore Ricardo's theory can - contrary to Marx's theory of surplus value - still be regarded as a fruitful complement to Sraffa's model.

Keywords: Marx; Ricardo; theory of surplus value; labour theory of value (search for similar items in EconPapers)
Date: 1998
References: View complete reference list from CitEc
Citations:

Downloads: (external link)
http://www.tandfonline.com/doi/abs/10.1080/10427719800000021 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:taf:eujhet:v:5:y:1998:i:2:p:276-291

Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/REJH20

DOI: 10.1080/10427719800000021

Access Statistics for this article

The European Journal of the History of Economic Thought is currently edited by José Luís Cardoso

More articles in The European Journal of the History of Economic Thought from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().