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The Corn Model, Gluts and Surplus Value

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  • Andrew Glyn

Abstract

The controversy over Ricardo`s corn model has focussed on the interpretation of his early writings. Here Ricardo`s later use of a corn model example in his dispute with Malthus over gluts is discussed. Malthus`s own extensive use of a corn model in attempting to justify his use of a labour commanded measure of value is analysed; it is shown that he calculates what Marx was to describe as surplus value from the physical conductions of production and the real wage.

Suggested Citation

  • Andrew Glyn, 2004. "The Corn Model, Gluts and Surplus Value," Economics Series Working Papers 194, University of Oxford, Department of Economics.
    • Handle: RePEc:oxf:wpaper:194
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    References listed on IDEAS

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    1. Peach,Terry, 1993. "Interpreting Ricardo," Cambridge Books, Cambridge University Press, number 9780521260862.
    2. Michael G. Akritas & Jouni Kuha & D. Wayne Osgood, 2002. "Rejoinder," Sociological Methods & Research, , vol. 30(3), pages 460-462, February.
    3. Terry Peach, 2002. "Interpreting Ricardo: a further reply to Sraffians," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 26(3), pages 381-391, May.
    4. Costabile, Lilia, 1983. "Natural Prices, Market Prices and Effective Demand in Malthus," Australian Economic Papers, Wiley Blackwell, vol. 22(4), pages 144-170, June.
    5. Heinz D. Kurz, 2002. "Interpreting Ricardo: a rejoinder to Peach," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 26(3), pages 371-380, May.
    6. de Vivo, Giancarlo, 1985. "Robert Torrens and Ricardo's 'Corn-Ratio' Theory of Profits," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 9(1), pages 89-92, March.
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    Cited by:

    1. Meacci, Ferdinando, 2014. "Ricardo's and Malthus's common error in their conflicting theories of the value of labour," MPRA Paper 55948, University Library of Munich, Germany.

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    More about this item

    Keywords

    Ricardo; Malthus; Gluts; Exploitation;
    All these keywords.

    JEL classification:

    • B12 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Classical (includes Adam Smith)
    • B14 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Socialist; Marxist

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