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The Ricardian Dynamics Revisited

Author

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  • Christian Bidard

    (EconomiX - EconomiX - UPN - Université Paris Nanterre - CNRS - Centre National de la Recherche Scientifique)

Abstract

The Ricardian dynamics describe the substitution of a new marginal method for an outgoing marginal method when demand increases. The process of extension or intensi cation of cultivation allows for spasmodic changes in prices and rents but is smooth on the physical side. We criticize the notion of extension of cultivation and show the existence of non-Ricardian equilibria, when some good is not produced by a marginal method. The working of the dynamics requires that the incoming method satisfies a productivity condition which is expressed in algebraic terms. A parallel is drawn between Ricardo's views on dynamics and the working of a Lemke algorithm for linear complementarity problems.

Suggested Citation

  • Christian Bidard, 2011. "The Ricardian Dynamics Revisited," Working Papers hal-04140981, HAL.
    • Handle: RePEc:hal:wpaper:hal-04140981
    Note: View the original document on HAL open archive server: https://hal.science/hal-04140981v1
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    References listed on IDEAS

    as
    1. Erreygers, Guido, 1995. "On the Uniqueness of Square Cost-Minimizing Techniques," The Manchester School of Economic & Social Studies, University of Manchester, vol. 63(2), pages 145-166, June.
    2. Christian Bidard, 2010. "The dynamics of intensive cultivation," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 34(6), pages 1097-1104.
    3. Mas-Colell,Andreu, 1990. "The Theory of General Economic Equilibrium," Cambridge Books, Cambridge University Press, number 9780521388702, June.
    4. C. E. Lemke, 1965. "Bimatrix Equilibrium Points and Mathematical Programming," Management Science, INFORMS, vol. 11(7), pages 681-689, May.
    5. Salvadori, Neri, 1986. "Land and Choice of Techniques within the Sraffa Framework," Australian Economic Papers, Wiley Blackwell, vol. 25(46), pages 94-105, June.
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    Cited by:

    1. is not listed on IDEAS
    2. Christian Bidard, 2014. "The Wage Curve in Austrian Models," Working Papers hal-04141287, HAL.
    3. Christian Bidard, 2014. "The Ricardian rent theory: an overview," Centro Sraffa Working Papers CSWP8, Centro di Ricerche e Documentazione 'Piero Sraffa'.
    4. Christian Bidard, 2014. "The Ricardian rent theory two centuries after," EconomiX Working Papers 2014-54, University of Paris Nanterre, EconomiX.

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    JEL classification:

    • B12 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Classical (includes Adam Smith)
    • D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
    • D33 - Microeconomics - - Distribution - - - Factor Income Distribution

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