A Mathematical Formulation of the Ricardian System

Luigi Lodovico Pasinetti, Luigi L. Pasinetti

Research output: Contribution to journalArticle

110 Citations (Scopus)

Abstract

In this article, L.L. Pasinetti describes David Ricardo’s complete economic system in a rigorous and concise form. He eliminates ambiguities and shows that the Ricardian system is very neat and even suitable for a mathematical formulation, with all the well-known advantages of conciseness, rigour and clarity. To avoid digressions, and lengthy references, the difficulties Ricardo faced and the basic features of his theories are briefly reviewed. The Italian version: "Una formulazione matematica del sistema ricardiano" is published in: Sviluppo economico e distribuzione del reddito, Bologna: Il Mulino, 1977, pp.9-42.
Original languageEnglish
Pages (from-to)78-98
Number of pages21
JournalReview of Economic Studies
Volume1959-1960
Publication statusPublished - 1960

Keywords

  • Characteristics of the Ricardian system
  • Market solutions and the attainment of natural equilibrium
  • Multi-commodity production
  • The equilibrium of the stationary state
  • The natural equilibrium in a two commodities system
  • The theory of value
  • Theory of distribution
  • Theory of economic growth

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