Ricardo’s labor cost theory of value Competitively produced goods 
Difficulties of a labor cost theory of value A measure of the quantity 
of labor The differing skills of labor Capital goods Land 
ret Profits Summary of Ricardian value theory Did 
Ricardo hold a labor theory of value? 
Ricardian Distribution Theory 98 
Distribution theory Distribution of income cver time 
Corn Laus 
Back to the 
Comparative Advantage 102 
Absolute advantage Comparative advantage 
Stability and Growth in a Capitalistic Economy 107 
Mercantilist views of aggregate demand Smith's views of aggregate 
demand Malthusian underconsumptionism Says Law 
Technological unemployment Kevues on Malthus and Ricardo 
Ricardo in Retrospect 114 
Suevested Readings 115 
J. S. MILL. AND THE DECLINE OF 
RICARDIAN ECONOMICS 117 
Post-Ricardian Developments 121 
Some early socialists The scope and method of economics 
Malthusian population theory Wages-fund doctrine Historically 
diminishing returns Falling rate of profits Theory of profits 
(interest) 
J.S. Mill: The Background of His Thought 130 
Liberalism with social reform Mill's approach to economics 
Mill's eclecticism Jeremy Benthaw's influence Laissez faire, 
intervention, or socialism? A different stationary state Mill's 
social philosophy 
Millian Economics 141 
The role of theory Value theory International trade theory 
Excess supply—Say’s Law reconsidered The wages fund— Mill's 
recantation 
[he Decline of Ricardian Economics in Retrospect 
~4+ 4 
Suggested Readines 151