Monnaie et reproduction du capital : un modèle pour aider un "génie supérieur" ricardien
AbstractThe way in which Ricardo deals with the gravitation of market prices around natural prices involves some difficulties which, from our point of view, invalidate his reasoning. However, some propositions which can be found in his monetary writings can help to avoid those difficulties. We present a model dealing with the working of an economy in which the commodities which are produced can only be bought with money. We prove that the dynamical evolution of such a society depends on the distribution of money between capitalists and on their prices expectations. Thus, if a "superior genius had the arrangement of the capital of the country under his control", as he alludes to in a letter to his friend Malthus, the consequences of such an intervention would be different from those assumed by Ricardo.
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Bibliographic InfoArticle provided by L'Harmattan in its journal Cahiers d'économie Politique.
Volume (Year): (2008)
Issue (Month): 55 (July - Dec)
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Find related papers by JEL classification:
- B12 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Classical (includes Adam Smith)
- E19 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Other
- E30 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - General (includes Measurement and Data)
- E49 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Other
- O41 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models
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