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Machinery Question

Author

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  • Meacci, Ferdinando

Abstract

The “machinery question” was developed by the economist David Ricardo (1772–1823) in the chapter “On Machinery” added to the third edition of his Principles of Political Economy and Taxation (1821). This question related, in his words, to the “influence of machinery on the interests of the different classes of society” and particularly to the “opinion entertained by the labouring class, that the employment of machinery is frequently detrimental to their interests”. Ricardo’s argument was presented as a recantation of his “previous opinion” on this question and marks the beginning of a debate that is still going on. The purpose of this entry is to simplify this debate by highlighting some weaknesses and strengths of Ricardo’s argument and in subsequent interpretations.

Suggested Citation

  • Meacci, Ferdinando, 2008. "Machinery Question," MPRA Paper 11696, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:11696
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    References listed on IDEAS

    as
    1. Maital, Shlomo & Haswell, Patricia, 1977. "Why Did Ricardo (Not) Change His Mind? On Money and Machinery," Economica, London School of Economics and Political Science, vol. 44(176), pages 359-368, November.
    2. Hayek, F A, 1969. "Three Elucidations of the Ricardo Effect," Journal of Political Economy, University of Chicago Press, vol. 77(2), pages 274-285, March/Apr.
    3. Meacci, Ferdinando, 1998. "Further Reflections on the Machinery Question," Contributions to Political Economy, Cambridge Political Economy Society, vol. 17(0), pages 21-37.
    4. Hicks, J. R., 1969. "A Theory of Economic History," OUP Catalogue, Oxford University Press, number 9780198811633.
    5. Samuelson, Paul A, 1988. "Mathematical Vindication of Ricardo on Machinery," Journal of Political Economy, University of Chicago Press, vol. 96(2), pages 274-282, April.
    6. Samuelson, Paul A, 1989. " Ricardo Was Right!," Scandinavian Journal of Economics, Wiley Blackwell, vol. 91(1), pages 47-62.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Ricardo; machinery; capital; technological unemployment;
    All these keywords.

    JEL classification:

    • B31 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Individuals
    • B12 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Classical (includes Adam Smith)
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes

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