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A Modern Treatment of the Ricardian Economy: I. The Pricing of Goods and of Labor and Land Services

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  • Paul A. Samuelson

Abstract

Introduction, 1. — In the beginning, 3. — The expanding universe, 5. — Scarcity of land and positive rent, 7. — Residual rent to homogeneous land, 9. — A numerical example, 10. — The case of many goods and homogeneous land, 12. — The Leontief-Ricardo tableau, 15. — Non-substitutability even where substitutability is possible, 16. — Summary and Conclusion, 18. — Appendix: Theory of differential rent, 20.

Suggested Citation

  • Paul A. Samuelson, 1959. "A Modern Treatment of the Ricardian Economy: I. The Pricing of Goods and of Labor and Land Services," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 73(1), pages 1-35.
    • Handle: RePEc:oup:qjecon:v:73:y:1959:i:1:p:1-35.
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    Cited by:

    1. Ormazabal Sánchez, Kepa Mirena, 2011. "A new look at Marx's refutation of Ricardo's refutation of the labor theory of value," IKERLANAK 2011-53, Universidad del País Vasco - Departamento de Fundamentos del Análisis Económico I.
    2. Zhang, Wei-Bin, 2015. "Tourism, Trade, Externalities, And Public Goods In A Three-Sector Growth Model," UTMS Journal of Economics, University of Tourism and Management, Skopje, Macedonia, vol. 6(1), pages 1-19.
    3. Wei-Bin Zhang, 2014. "Capital and Knowledge: Integrating Arrow’s Learning-by-Doing, the Walrasian Equilibrium Theory and Neoclassical Growth Theory," South Asian Journal of Macroeconomics and Public Finance, , vol. 3(2), pages 267-293, December.
    4. Wei-Bin Zhang, 2017. "Economic Growth and Structural Change ? A Synthesis of the Walrasian General Equilibrium, Ricardian Distribution and Neoclassical Growth Theories," Asian Development Policy Review, Asian Economic and Social Society, vol. 5(1), pages 17-36, March.
    5. O. A. Ð ntoncheva & T. E. Apanasenko, 2019. "Socialization of a Land Rent as a Way of Reconstruction of Social Structure for the Benefit of Ensuring Cost Efficiency," Administrative Consulting, Russian Presidential Academy of National Economy and Public Administration. North-West Institute of Management., issue 11.
    6. Wei-Bin Zhang, 2013. "A Synthesis Of The Uzawa-Lucas Model With The Walrasian-General-Equilibrium And Neoclassical-Growth Theories," Economic Annals, Faculty of Economics and Business, University of Belgrade, vol. 58(199), pages 7-38, October -.
    7. Akhabbar, Amanar & Lallement, Jerôme, 2011. "« Appliquer la théorie économique de l’équilibre général » : de Walras à Leontief [Applying general equilibrium theory: from Walras to Leontief]," MPRA Paper 30210, University Library of Munich, Germany.
    8. Ormazabal Sánchez, Kepa Mirena, 2011. "A new look at Marx's refutation of Ricardo's refutation of the labor theory of value," IKERLANAK 6258, Universidad del País Vasco - Departamento de Fundamentos del Análisis Económico I.
    9. Wei-Bin Zhang, 2015. "The Dynamics of Wealth, Environment and Land Value in a Three-Sector Growth Model," South-Eastern Europe Journal of Economics, Association of Economic Universities of South and Eastern Europe and the Black Sea Region, vol. 13(2), pages 197-228.
    10. Ariel Dvoskin & Saverio M. Fratini, 2016. "On the Samuelson–Etula Master Function and the capital controversy," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 23(6), pages 1032-1058, November.
    11. Maddison, David & Rehdanz, Katrin, 2014. "Was Ricardo Right?," 88th Annual Conference, April 9-11, 2014, AgroParisTech, Paris, France 169733, Agricultural Economics Society.
    12. Freni, Giuseppe & Salvadori, Neri & Signorino, Rodolfo, 2019. "Structural change in a Ricardian world economy: The role of extensive rent," Structural Change and Economic Dynamics, Elsevier, vol. 49(C), pages 277-282.
    13. Gary, Robert F. & Fink, Matthias & Belousova, Olga & Marinakis, Yorgos & Tierney, Robert & Walsh, Steven T., 2020. "An introduction to the field of abundant economic thought," Technological Forecasting and Social Change, Elsevier, vol. 155(C).
    14. John M. Hartwick, 1970. "The Pricing of Goods and Agricultural Land in Multiregional General Equilibruim," Working Paper 31, Economics Department, Queen's University.
    15. Wei-Bin Zhang, 2018. "Inequality and Education Subsidies in General Equilibrium Growth Model for a Small Open Economy," Asian Journal of Economic Modelling, Asian Economic and Social Society, vol. 6(2), pages 172-190, June.
    16. Wei Bin Zhang, 2015. "Progressive Income Taxation and Economic Growth with Endogenous Labor Supply and Public Good," European Journal of Economics and Business Studies Articles, Revistia Research and Publishing, vol. 1, September.
    17. Akhabbar, Amanar, 2013. "Samuelson and the Non-Substitution Theorem: Some Methodological Remarks," MPRA Paper 61760, University Library of Munich, Germany.
    18. Wei-Bin Zhang, 2017. "How Do the Richest 1% Owns 50% of Wealth in a Small-Open Growth Model with Endogenous Wealth and Human Capital," Academicus International Scientific Journal, Entrepreneurship Training Center Albania, issue 15, pages 58-79, January.
    19. Wei-bin Zhang, 2020. "Education, Income, Wealth Inequality and Business Cycles in a General Equilibrium Growth Model," Economic Alternatives, University of National and World Economy, Sofia, Bulgaria, issue 4, pages 607-618, December.
    20. Candau, Fabien, 2006. "The Spatial and Public Economics of Regions, a Theoretical and Empirical Survey," MPRA Paper 1153, University Library of Munich, Germany.
    21. Wei Bin ZHANG, 2016. "Oscillations In The Walrasian General Equilibrium Theory With Endogenous Wealth And Human Capital Accumulation," EcoForum, "Stefan cel Mare" University of Suceava, Romania, Faculty of Economics and Public Administration - Economy, Business Administration and Tourism Department., vol. 5(1), pages 1-41, January.
    22. Barrie Needham, 1981. "A Neo-Classical Supply-Based Approach to Land Prices," Urban Studies, Urban Studies Journal Limited, vol. 18(1), pages 91-104, February.

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