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The Non-Ricardian Stationary State in Chapter 17 of the Principles of Political Economy and Taxation

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  • Wakamatsu, Naoyuki

Abstract

This paper explains the non-Ricardian stationary state (NRSS) and the tax incidence in such a state concretely. In the NRSS, the corn becomes monopoly price, and the rent upon scarcity is caused into the price. In this regard, Hollander (1979) considered that Ricardo emphasized the rent upon scarcity in addition to the differential rent. However, Hollander derived the interpretation based on Buchanan’s words, rather than Ricardo’s. On the contrary, we attempt to derive the interpretation from Ricardo’s words in Chapter 17 of the Principles. We show that Hollander’s interpretation is more inherent in Ricardo himself.

Suggested Citation

  • Wakamatsu, Naoyuki, 2020. "The Non-Ricardian Stationary State in Chapter 17 of the Principles of Political Economy and Taxation," MPRA Paper 103183, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:103183
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    References listed on IDEAS

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    1. Luigi L. Pasinetti, 1960. "A Mathematical Formulation of the Ricardian System," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 27(2), pages 78-98.
    2. John Hicks & Samuel Hollander, 1977. "Mr. Ricardo and the Moderns," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 91(3), pages 351-369.
    3. Eagly, Robert V, 1983. "Tax Incidence in Ricardian Analysis," Public Finance = Finances publiques, , vol. 38(2), pages 217-231.
    4. Dome, Takuo, 1992. "Ricardo's Theory of Tax Incidence: A Sraffian Re-interpretation," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 16(1), pages 43-53, March.
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    JEL classification:

    • B12 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Classical (includes Adam Smith)
    • B31 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Individuals

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