Notes on Ricardo’s theory of value and taxation
AbstractThe purpose of this paper is twofold: on the one hand is to discuss Ricardo’s version of the labour theory of value; and on the other hand, is to analyse some crucial aspects of Ricardo’s theory of taxation as an extension and further elaboration of his theory of value. This discussion is illustrated with the use of a formal model based on a generalisation of Ricardo’s numerical examples. The claim that the paper raises is that Ricardo’s analysis of taxation is a kind of a comparative statics exercise, where the real wage, the state of technology and the level of output are taken as givens. Furthermore, it is shown that Ricardo’s claim that money’s role in the presence of taxation of profits is not neutral becomes questionable, when various feedback effects are accounted for.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 35590.
Date of creation: 2005
Date of revision: 27 Dec 2011
Publication status: Published in Asian African Journal of Economic and Econometrics 1.5(2005): pp. 35-47
Classical economists; Taxation; Theory of Value; Distribution;
Find related papers by JEL classification:
- B51 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Socialist; Marxian; Sraffian
- H22 - Public Economics - - Taxation, Subsidies, and Revenue - - - Incidence
- B12 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Classical (includes Adam Smith)
- B21 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Microeconomics
- B14 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Socialist; Marxist
- B16 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Quantitative and Mathematical
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.:
- Marshall, Alfred, 1890. "The Principles of Economics," History of Economic Thought Books, McMaster University Archive for the History of Economic Thought, number marshall1890.
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