Value and Riches
AbstractThe distinction between ‘value’ and ‘riches’ was first highlighted by Ricardo in Chapter XX, ‘Value and Riches, their distinctive Properties’, of his Principles (1821). Ricardo’s aim was to clear up Smith’s famous statement that “every man is rich or poor according to the degree in which he can afford to enjoy the necessaries, conveniences, and amusements of human life” (1776, Bk.I, Ch.V). The paper argues that Ricardo's criticism of Smith's statement is as inaccurate as Smith's peculiar way of developing by such a statement his crucial distinction between the wealth of an individual and the wealth of a society as well as his analysis of the mechanisms by which the search for increasing the former (via the notion of "exchangeable values") results in an actual increase of the latter (via the notion of "use values").
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 14715.
Date of creation: 1998
Date of revision: 15 Apr 2009
Smith; Ricardo; wealth; use values; exchange values;
Find related papers by JEL classification:
- B12 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Classical (includes Adam Smith)
- B0 - Schools of Economic Thought and Methodology - - General
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Malthus,T. R., 2008. "T. R. Malthus: Principles of Political Economy," Cambridge Books, Cambridge University Press, number 9780521075930 edited by Pullen,John, October.
- Malthus,T. R., 2008. "T. R. Malthus: Principles of Political Economy," Cambridge Books, Cambridge University Press, number 9780521075916 edited by Pullen,John, October.
- Pullen,John (ed.), 2008. "T. R. Malthus: Principles of Political Economy 2 Volume Paperback Set Real Author-Name:Malthus,T. R," Cambridge Books, Cambridge University Press, number 9780521735735, October.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Ekkehart Schlicht).
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.