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		I. Political economy (Greek, oikonomia -- the management of a household or family, politike -- pertaining to the state) or economics (ta oikonomika -- the art of household management) is the social science which treats of man's activities in providing the material means to satisfy his wants.
		Economy originally meant the management and regulation of the resources of the household; that is, of the immediate family with its slaves and dependents.
		Adam Smith (1723-90), "the father of political economy" was a result of the combination of both the English and the French currents.
	www.catholic.org /printer_friendly.php?id=9457§ion=Encyclopedia (2609 words)

	Reference for David Ricardo - Search.com
		David Ricardo (April 18, 1772–September 11, 1823), a political economist, is often credited with systematizing economics, and was one of the most influential of the classical economists, along with Thomas Malthus and Adam Smith.
		He also was a member of London's intellectuals, later becoming a member of Malthus' Political Economy Club, and a member of the King of Clubs.
		Principles of Political Economy and Taxation (1817), an analysis that concluded that land rent grows as population increases.
	www.search.com /reference/David_Ricardo (1525 words)

	On The Principles of Political Economy and Taxation, by David Ricardo 1871
		Economy in the use of labour never fails to reduce the relative value of a commodity, whether the saving be in the labour necessary to the manufacture of the commodity itself, or in that necessary to the formation of the capital, by the aid of which it is produced.
		The principle that value does not vary with the rise of fall of wages, modified also by the unequal durability of capital, and by the unequal rapidity with which it is returned to its employer.
		In stating the principles which regulate exchangeable value and price, we should carefully distinguish between those variations which belong to the commodity itself, and those which are occasioned by a variation in the medium in which value is estimated, or price expressed.
	members.cox.net /economist/political-theory/ricardo/ch01.htm (5873 words)

	Ricardo's Principles of Political Economy and Taxations, Part 1 (Site not responding. Last check: )
		If the principles which he deems correct, should be found to be so, it will be for others, more able than himself, to trace them to all their important consequences.
		Section V The principle that value does not vary with the rise of fall of wages, modified also by the unequal durability of capital, and by the unequal rapidity with which it is returned to its employer.
		On the common principles of supply and demand, no rent could be paid for such land, for the reason stated why nothing is given for the use of air and water, or for any other of the gifts of nature which exist in boundless quantity.
	www.csuchico.edu /econ/old/links/books/ric.princ1.html (13541 words)

	Online Library of Liberty - chapter i: On Value - The Works and Correspondence of David Ricardo, Vol. 1 Principles of ...
		The principle that value does not vary with the rise or fall of wages, modified also by the unequal durability of capital, and by the unequal rapidity with which it is returned to its employer.
		Economy in the use of labour never fails to reduce the relative value of a commodity, whether the saving be in the labour necessary to the manufacture of the commodity itself, or in that necessary to the formation of the capital, by the aid of which it is produced.
		These results are of such importance to the science of political economy, yet accord so little with some of its received doctrines, which maintain that every rise in wages is necessarily transferred to the price of commodities, that it may not be superfluous to elucidate the subject still further.
	oll.libertyfund.org /?option=com_staticxt&staticfile=show.php?title=113&chapter=38259&layout=html&Itemid=27 (10614 words)

	JewishEncyclopedia.com - RICARDO, DAVID:
		The corn-law controversies of 1813-15 brought Ricardo again conspicuously to the fore, first as a pamphleteer advocate of free-trade principles, in opposition to the protectionist leanings of Malthus, and thereafter as an exponent of a systematic theory of economic distribution and fiscal incidence.
		However friends and critics may differ as to the validity of Ricardo's specific doctrines, there is little doubt as to his service in establishing the concept of political economy as a body of abstract uniformities dealing with the phenomena of wealth.
		With respect to particular principles—the theory of metallic money, the laws of fiscal incidence, the scheme of economic distribution—Ricardo's contributions were important and in many respects enduring, but it is in the larger influence of concept and purpose that the clearest explanation of his intellectual dominance is to be found.
	www.jewishencyclopedia.com /view.jsp?artid=271&letter=R (1232 words)

	Collection of Classics in Political Economy
		An Essay on the Principle of Population, by Thomas Malthus, 1798
		Elements of Political Economy, by James Mill, 1844
		Political Economy - Economics - Theory of Marginal Utility - Labour Theory of Value - Value - Critique - Theories of Value
	www.marxists.org /reference/subject/economics (236 words)

	INEX: Wikipedia, the free encyclopedia (David Ricardo)
		Comparative advantage forms the basis of modern trade theory, reformulated as the Heckscher-Ohlin theorem, which states that a country has a comparative advantage in the production of a product if the country is relatively well-endowed with inputs that are used intensively in producing the product.
		It also clearly laid out the theory of comparative advantage, which showed that all nations could benefit from free trade, even if a nation was less efficient at producing all kinds of goods than its trading partners.
		On the Principles of Political Economy and Taxation, by David Ricardo.
	infao5501.ag5.mpi-sb.mpg.de:8080 /topx/archive?link=Wikipedia-Lip6-2/8470.xml&style (729 words)

	David Ricardo - Comparitive Advantage
		If the principles which he deems correct, should be found to be so, it will be for others, more able than himself, to trace them to all their important consequences.
		Section IV The principle that the quantity of labour bestowed on the production of commodities regulates their relative value, considerably modified by the employment of machinery and other fixed and durable capital.
		On the common principles of supply and demand, no rent could be paid for such land, for the reason stated why nothing is given for the use of air and water, or for any other of the gifts of nature which exist in boundless quantity.
	iang.org /free_banking/principles.html (14329 words)

	[No title] (Site not responding. Last check: )
		On the same principle, too, namely, by a limitation of its quantity, a debased coin would circulate at the value it should bear, if it were of the legal weight and fineness, and not at the value of the quantity of metal which it actually contained.
		No point in political economy can be better established, than that a rich country is prevented from increasing in population, in the same ratio as a poor country, by the progressive difficulty of providing food.
		To elucidate the principle, I have been supposing, that improved machinery is suddenly discovered, and extensively used; but the truth is, that these discoveries are gradual, and rather operate in determining the employment of the capital which is saved and accumulated, than in diverting capital from its actual employment.
	www.ecn.bris.ac.uk /het/ricardo/prin3.txt (11533 words)

	Principles of Political Economy TOC and Intro, Henry Sidgwick
		During the last thirty years Political Economy in England has risen from the state of controversy on fundamental principles and method into that of an apparently established science, and again relapsed into the state of controversy.
		We should aim at proportioning taxation mainly to that part of the income which is not spent in necessaries, nor in ways socially useful, nor saved: the adjustment can at best be rough, especially if taxes be largely laid on commodities---a method however which is on several grounds to be recommended.
		Political economy has exploded the fallacy that the luxurious expenditure of the rich benefits the poor; but it has also drawn attention to the dangers of almsgiving.
	www.la.utexas.edu /research/poltheory/sidgwick/ppe/index.html (1851 words)

	Critique of Neo-classical Economics - Mainstream Weekly
		They felt that political independence should be used for rapid economic development so that their peoples can get out of the vicious circle of poverty and enjoy better conditions of living and reduce the gap between their own living standard and that of the Western countries.
		WHILE market economy seems to have emerged triumphant in today’s era of globalisation, there is a keener realisation that neo-classical Micro- economics, which is supposed to provide intellectual support to the free market economy, is itself based on questionable assumptions.
		Economy is embedded in ecology; it is a part of the ecosystem and cannot function without natural resources which, however, in Neo-classical Economics are taken for granted with no or little value attached to them.
	www.mainstreamweekly.net /article663.html (6032 words)

	Chapter One--The Marginalist Assault on Classical Political Economy: Assessment and Counter-Attack
		Given the fertile ground Ricardo's political economy presented for socialist conclusions, it was naturally seen as problematic by apologists for the newly arisen system of industrial capitalism.
		Smith, James Mill and Ricardo had developed their scientific political economy without fear of its revolutionary implications, because industrial capital was still the progressive underdog in a revolutionary struggle against the unearned income of feudal landlords and chartered monopolists.
		It is too seldom remembered to-day that the concern of classical Political Economy was with what one may term the "macroscopic" problems of economic society, and only very secondarily with "microscopic" problems, in the shape of the movements of particular commodity prices.
	mutualist.org /id70.html (13309 words)

	Taxation
		"On The Principles of Political Economy and Taxation" by David Ricardo is a classic work of literature that can be enjoyed by all.
		Taxation is high on the political agenda of all major industrial countries and the debates about taxes are dominated by references to foreign models.
		This book explores how ideas about taxation were transferred between and within countries since the mid-eighteenth century.
	www.dollarsigns.org /taxation.htm (233 words)

	Online Library of Liberty - INTRODUCTION - The Works and Correspondence of David Ricardo, Vol. 1 Principles of ...
		Malthus, in his Principles of Political Economy, draws attention to the case of commodities where the period of turnover of circulating capital may be less than one year.
		The ‘principal problem in Political Economy’ was in his view the division of the national product between classes2 and in the course of that investigation he was troubled by the fact that the size of this product appears to change when the division changes.
		Malthus in his Principles had also criticised Ricardo for having applied to rent his measure by ‘proportions or cost in labour’,1 and having suggested as a result that with the extension of cultivation the proportion of rent to the total produce of land would increase.
	oll.libertyfund.org /index.php?option=com_staticxt&staticfile=show.php?title=113&chapter=38236&layout=html (10876 words)

	Chapter One--The Marginalist Assault on Classical Political Economy: Assessment and Counter-Attack
		Given the fertile ground Ricardo's political economy presented for socialist conclusions, it was naturally seen as problematic by apologists for the newly arisen system of industrial capitalism.
		Smith, James Mill and Ricardo had developed their scientific political economy without fear of its revolutionary implications, because industrial capital was still the progressive underdog in a revolutionary struggle against the unearned income of feudal landlords and chartered monopolists.
		According to Maurice Dobb, the "vulgar political economists" were consciously motivated by apologetic considerations; as an alternative to the mainstream classical school of England, they turned to the subjectivist continental school, which had been influenced by Say's interpretation of Adam Smith.
	www.mutualist.org /id70.html (13309 words)

	On The Principles of Political Economy and Taxation, by David Ricardo 1871
		The clearly understanding this principle is, I am persuaded, of the utmost importance to the science of political economy.
		It would, in fact, be a tax on the consumers of raw produce, partly for the benefit of the State, and partly for the benefit of landlords.
		Suppose 100,000 quarters of corn to be sold in a certain district, and in a certain time, at £4 per quarter, and that in consequence of a direct tax of 8s.
	members.cox.net /economist/political-theory/ricardo/notes.htm (5845 words)

	SparkNotes: John Stuart Mill: Principles of Political Economy
		Mill’s Principles of Political Economy was first published in 1848, and it went through various editions; the final edition was the seventh, which appeared in 1871.
		Political Economy is the term nineteenth-century writers use to refer to the study of what we today call macroeconomics, though its practitioners, such as Adam Smith, Mill, David Ricardo, and Karl Marx, were more philosophical and less empirical in their methods than modern economists.
		The most important aspect of Principles is the use of a scientific method in the analysis of politics, thus giving a practical application to theoretical ideas.
	www.sparknotes.com /philosophy/mill/section2.rhtml (1329 words)

	CATHOLIC ENCYCLOPEDIA: Political Economy
		Economy originally meant the management and regulation of the resources of the household; that is, of the immediate family with its
		political economy was concerned merely with the explanation of the
		political economy is an inductive and an ethical science.
	www.newadvent.org /cathen/12213b.htm (1738 words)

	Action for Economic Reforms - The Political Economy under the Estrada Administration
		Mainstream economics relegated political economy to a backseat position during the dominance of neo-liberalism in the 1980s till the early 1990s.
		Indeed, the accession of Estrada has revitalized the Marcos cronies and empowered a new circle of businessmen and power-brokers who were in the thick of Estrada's campaign for the presidency.
		And it is payoff time, and many want to recoup their investments at the soonest, not even waiting for the economy to first recover on a sustainable basis.
	www.aer.ph /index.php?option=com_content&task=view&id=229&Itemid=62 (564 words)

	David Ricardo
		Coincidentally, this principle was discovered simultaneously and independently by Malthus, Robert Torrens and Edward West.
		In his formidable treatise, Principles of Political Economy and Taxation (1817), Ricardo finally articulated and integrated a theory of value into his theory of distribution.
		As the economy continued to grow, then, by his theory of distribution, profits would be eventually squeezed out by rents and wages.
	cepa.newschool.edu /het/profiles/ricardo.htm (2223 words)

	On The Principles of Political Economy and Taxation, by David Ricardo 1871
		The annual produce of the land and labour of the society, the real wealth and revenue of the great body of the people, might be the same after such a tax as before.
		The burdens of the State should be Börne by all in proportion to their means: this is one of the four maxims mentioned by Adam Smith, which should govern all taxation.
		Rent often belongs to those who, after many years of toil, have realised their gains, and expended their fortunes in the purchase of land or houses; and it certainly would be an infringement of that principle which should ever be held sacred, the security of property, to subject it to unequal taxation.
	members.cox.net /economist/political-theory/ricardo/ch14.htm (886 words)

	Humanities 2c
		In this class you will read a selection from classical literature in political economy and a small text that provides an overview (Heilbroner's book).
		These books were very influential - they all had a profound impact upon popular opinion and politics - and if it can be argued that ideas influence history, they probably had a considerable impact upon the course taken by history over the last two centuries.
		My objective in having you read them is two-fold: (1) I want to give you some exposure to these ideas in their original form, (2) I want you to find some of the original core postulates of political economy that are still to be found in the study of economics today.
	www2.hmc.edu /~evans/h2co.htm (424 words)

	James Mill on the gains from Trade
		James Mill (1773-1836) was a major figure in classical political economy; for biographical data and internet resources see Gonçalo L. Fonseca and Leanne J.
		Mill’s Elements of Political Economy was the first textbook of Ricardian economics.
		Essays on Some Unsettled Questions of Political Economy seems to have been a response to a mistake in the Elements regarding the evaluation of the gain from trade.
	www.economics.soton.ac.uk /staff/aldrich/index.htm (556 words)

	EconPapers: History of Economic Thought Books
		Observations on the Famine of 1846-7 in the Highlands of Scotland and in Ireland, in Illustrating the Connection of the Principle of Population with the Management of the Poor
		Principles of Political Economy (IV): Influence of the Progress of Society, vol 4
		Principles of Political Economy (V): On the Influence of Government, vol 5
	econpapers.repec.org /bookchap/hayhetboo/default5.htm (435 words)

	J.R. McCulloch
		McCulloch also lectured on political economy at University College London from 1828 to 1832.
		McCulloch's main work, Principles (1825), was perhaps the first successful "serious" textbook in economics (and a rather loyal reading of Ricardo's theory).
		The Principles of Political Economy, with a sketch of the rise and progress of the science.
	cepa.newschool.edu /het/profiles/mcculloch.htm (495 words)

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