Robert Torrens and the dynamics of wages in a growing economy

Christophe Depoortère

The European Journal of the History of Economic Thought, 2022, vol. 29, issue 2, 329-348

Abstract: In 2018, Taro Hisamatsu published in this journal a reconstruction of the dynamic theory of economic growth that Torrens developed in On the Means of Improving the Condition of the Labouring Classes (1829). However, on a couple of important issues—the exogeneity and constancy of the minimum of wages; and the tendency of population to increase faster than capital—, Hisamatsu’s model appears to be at variance with Torrens’s genuine point of view. The aim of my paper is then to provide an alternative to Hisamatsu’s reconstruction of Torrens’s dynamic vision of a growing economy.

Date: 2022
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DOI: 10.1080/09672567.2021.1963797

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