Why William Paley was 'the first of the Cambridge economists'

Article Abstract:

William Paley was regarded by J.M. Keynes as the 'first of the Cambridge economists', and Paley's ideas on political economy had a significant impact on Malthus and on Keynes himself. Paley's 'Principles of Moral and Political Philosophy' discusses how 'provisions' and 'luxury' goods are interdependent, while most of Malthus' population theory also seems to resemble, or even be based on, Paley's work. Article further discusses Paley's work, drawing up a macroeconomic model to explain his theories.

Economists, Paley, William

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Ricardo, Torrens and Sraffa: the untenability of de Vivo's 'summing up. '

Article Abstract:

It is argued that Giancarlo de Vivo's contention that Torrens's 'corn model' owes much to Sraffa's interpretation of Ricardo's early theory of profits cannot be substantiated. Torrens allows for materials in 'manufacturing capital' while Sraffa's theory requires that all sectors of capital are homogenous. It is also debatable whether Torrens used his own corn model when he acknowledged how much he owed to Ricardo's examination of how profit is determined.

Analysis, Economics, de Vivo, Giancarlo

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