A Critical Note on Ricardo?s views on Absolute and Relative Value in terms of Labor Values

Miguel Ramirez

HISTORY OF ECONOMIC THOUGHT AND POLICY, 2023, vol. 2023/2, issue 2, 53-66

Abstract: This note examines Ricardo?s views on absolute and relative value in terms of the labor theory of value. It discusses why Ricardo viewed the construction of a standard of value capable of measuring changes in the absolute value of commodities as critical to understanding the division of the national product among the main contending classes in a competitive capitalist economy. The paper also highlights the shortcomings of Ricardo?s proposed standard measure of value ? one that would challenge and confound him all his life.

JEL-codes: B10 B12 B24 (search for similar items in EconPapers)
Date: 2023
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Working Paper: A Critical Note on Ricardo's Views on Absolute and Relative Value in terms of Labor Values (2022)
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