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3 - David Ricardo

Published online by Cambridge University Press:  12 January 2010

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Summary

In his distinguished work on Philosophic Radicalism Halévy draws attention to the regret expressed by James Mill in the course of an article in The Edinburgh Review for October 1808 at “the great difficulty with which the salutary doctrines of political economy are propagated in this country”; adding that between 1776 and 1817 “not a single complete treatise on political economy appeared in England. Adam Smith remained the only authority, and he was little heeded.” Mill's views on doctrinal propagation may have been ambitious or he may have written in a pessimistic mood. But there was certainly nothing during this period approaching a “complete treatise” on the subject. (Even if Bentham's Manual of 1793–5 had come out, and been longer than it is, it would not have qualified since it was about policy and not theory.) This is not to say that there was not considerable activity and alertness in matters affecting political economy, especially in respect to pamphleteering on particular questions. To the latter class can be said to belong William Spence's Britain Independent of Commerce of 1808, and James Mill's answer to it in Commerce Defended of the same year; the latter being chiefly memorable for its sponsoring of ‘Say's Law’, as first propounded in J.-B. Say's Traité d'Économie Politique of five years before. The year 1798, moreover, had seen Malthus's Essay on Population; while in the first decade of the new century articles on questions of political economy were not uncommon in The Edinburgh Review and were a topic of discussion among the cognoscenti.

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Theories of Value and Distribution since Adam Smith
Ideology and Economic Theory
, pp. 65 - 95
Publisher: Cambridge University Press
Print publication year: 1973

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  • David Ricardo
  • Maurice Dobb
  • Book: Theories of Value and Distribution since Adam Smith
  • Online publication: 12 January 2010
  • Chapter DOI: https://doi.org/10.1017/CBO9780511559457.003
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  • David Ricardo
  • Maurice Dobb
  • Book: Theories of Value and Distribution since Adam Smith
  • Online publication: 12 January 2010
  • Chapter DOI: https://doi.org/10.1017/CBO9780511559457.003
Available formats
×

Save book to Google Drive

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Google Drive.

  • David Ricardo
  • Maurice Dobb
  • Book: Theories of Value and Distribution since Adam Smith
  • Online publication: 12 January 2010
  • Chapter DOI: https://doi.org/10.1017/CBO9780511559457.003
Available formats
×