Ricardo on machinery: a dynamic analysis
I construct a dynamic two-sector model which formalizes Ricardo's argument on the effects of the introduction of machinery. My model does not require the inappropriate assumptions common to other Ricardian models. Using this model, I show that if machinery is introduced, both the demand for labour and the output of the consumption good must decline temporarily and can then recover. As well, the temporal decline of value of the gross produce is not a necessary condition for the above temporal decline of the demand for labour.
If 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.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Volume (Year): 7 (2000)
Issue (Month): 2 ()
|Contact details of provider:|| Web page: http://www.tandfonline.com/REJH20|
|Order Information:||Web: http://www.tandfonline.com/pricing/journal/REJH20|
References listed on IDEAS
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.:
- Gianluca Femminis & Andrea Salanti, 1995. "Davis on Ricardo's Machinery Chapter: A Comment," History of Political Economy, Duke University Press, vol. 27(1), pages 89-99, Spring.
- Samuelson, Paul A, 1988. "Mathematical Vindication of Ricardo on Machinery," Journal of Political Economy, University of Chicago Press, vol. 96(2), pages 274-82, April.
- Dome, Takuo, 1992. "Ricardo's Theory of Tax Incidence: A Sraffian Re-interpretation," Cambridge Journal of Economics, Oxford University Press, vol. 16(1), pages 43-53, March.
- Shields, Michael P, 1989. "The Machinery Question: Can Technological Improvements Reduce Real Output?," Economica, London School of Economics and Political Science, vol. 56(222), pages 215-24, May.
- Barkai, Haim, 1986. "Ricardo's Volte-Face on Machinery," Journal of Political Economy, University of Chicago Press, vol. 94(3), pages 595-613, June.
- Hicks, John & Hollander, Samuel, 1977. "Mr. Ricardo and the Moderns," The Quarterly Journal of Economics, MIT Press, vol. 91(3), pages 351-69, August.
- Hicks, J. R., 1969. "A Theory of Economic History," OUP Catalogue, Oxford University Press, number 9780198811633, March.
When requesting a correction, please mention this item's handle: RePEc:taf:eujhet:v:7:y:2000:i:2:p:208-227. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Michael McNulty)
If references are entirely missing, you can add them using this form.