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Monnaie et reproduction du capital : un modèle pour aider un "génie supérieur" ricardien

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Author Info
Catherine MARTIN
Abstract

The 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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Publisher Info
Article provided by Centre national de la recherche scientifique (CNRS), Paris in its journal Cahiers d'économie Politique.

Volume (Year): (2008)
Issue (Month): 55 (July - Dec)
Pages: 81-112
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Handle: RePEc:cpo:journl:y:2008:i:55:p:81-112

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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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This page was last updated on 2009-12-2.

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