EconPapers    
Economics at your fingertips  
 

The Ricardian rent theory two centuries after

Christian Bidard ()

No 2014-54, EconomiX Working Papers from University of Paris Nanterre, EconomiX

Abstract: We propose to re-read Ricardo's theory of rent and its modern versions. Ricardo's dynamic approach follows the transformations of a long-term equilibrium with demand. Sraffa adopted the same framework while substituting a value criterion for a physical criterion to determine the incoming marginal method, but he did not state the law of succession of methods explicitly. This prevented him to realize that his critique opens the door to all complications of capital the ory, with the consequence that the Ricardian dynamics fail when a divergence appears between profitability and productivity. Contemporary studies have cast doubts on the validity of some of Ricardo's and Sraffa's over-optimistic conclusions, but the abandonment of the dynamic approach does not allow them to explain the ultimate reason of the phenomena they have pointed at. Ricardo's method has been recently rediscovered by mathematicians.

Keywords: Classical theory; land; rent; Ricardo; Sraffa. (search for similar items in EconPapers)
JEL-codes: B12 B51 C61 D33 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-his, nep-hme and nep-hpe
Date: 2014
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed

Downloads: (external link)
http://economix.fr/pdf/dt/2014/WP_EcoX_2014-54.pdf (application/pdf)

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:drm:wpaper:2014-54

Access Statistics for this paper

More papers in EconomiX Working Papers from University of Paris Nanterre, EconomiX Contact information at EDIRC.
Bibliographic data for series maintained by Valerie Mignon ().

 
Page updated 2019-12-09
Handle: RePEc:drm:wpaper:2014-54