Orthodoxversusunorthodox views on Ricardo’s theory of money

From Ricardo to Sraffa: A Quest for a Modern Classical Standpoint on Money

“…[…] I beg you[Malthus] to suppose all causes of variation removed, that we may speak about the variations of other things in an unvarying measure without confusion. "(Ricardo -1973, II: 82-3) 7 For another discussion of the relation between the standard commodity and the standard of money, seeMarcuzzo and Rosselli (1994).8 The emphasis on an arbitrage implying the market for gold (whether international arbitrage with its foreign markets, as inMarcuzzo and Rosselli 1991, or domestic arbitrage with the monetary institution, as in Deleplace 2017) is a distinctive aspect of the unorthodox understanding of Ricardo's monetary theory; seeDeleplace (2020).…”