Ricardo and the Theory of Value Distribution and Growth

Economic Growth and Structural Change ? A Synthesis of the Walrasian General Equilibrium, Ricardian Distribution and Neoclassical Growth Theories

“…For instance, if housing, agricultural sector, and land are omitted and the population is homogeneous, our model is structurally similar to the models by Solow (1956) and Uzawa (1961). Our model is structurally similar to the Ricardian models formed by Pasinetti and Samuelson (Samuelson, 1959;Pasinetti, 1960;Caravale and Tosato, 1980;Casarosa, 1985). We can also demonstrate that our model is structurally similar to the growth models for the dual economy (Todaro, 1969;Kaiyama, 1973;Marino, 1975;Amano, 1980).…”

Values of Land and Renewable Resources in a Three-Sector Economic Growth Model

“…But in different stages of the society, the proportions of the whole produce of the earth which will be allotted to each of these classes, under the names of rent, profits, and wages, will be essentially different; depending mainly on the actual fertility of the soil, on the accumulation of capital and population, and on the skill, ingenuity, and the instruments in agriculture." Since the publication of the Principles, many attempts have been done to extend or generalize the system (Barkai, 1959(Barkai, , 1966Pasinetti, 1960Pasinetti, , 1974Cochrane, 1970;Brems, 1970;Caravale and Tosato, 1980;Casarosa, 1985;Negish, 1989;Morishima, 1989). Nevertheless, what Ricardo (1821: preface) observed long time ago is still relevant today: "To determine the laws which regulate this distribution, is the principal problem in Political Economy: much as the science has been improved by the writings of Turgot, Stuart, Smith, Say, Sismondi, and others, they afford very little satisfactory information respecting the natural course of rent, profit, and wages."…”

classical growth models

“…Some reservation on this question of convergence was originally expressed by Hicks and Hollander (1977) and followed up by Gordon (1983). Subsequent discussion by Casarosa (1978), Caravale and Tosato (1980) and Caravale (1985) further emphasized the problematic nature of the convergence process. Much of the complexity of this process arises from the intertwined dynamics of distributional change and population growth typical of the Ricardian system.…”