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Professor Arrow's Ricardo

Published online by Cambridge University Press:  11 June 2009

L. E. Johnson
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Extract

Professor Kenneth Arrow has now added his views to the current Ricardian controversy in a provocative survey of alternative judgments regarding David Ricardo's contribution (Arrow 1991). Arrow's primary thesis appears to be that “the main thrust of Ricardo's system is a bold attempt to determine values independent of demand considerations” (Arrow 1991, p. 75), a position which has already come under attack (Caravale 1991; Hollander 1991). Our aim, however, is not to examine Ricardo's treatment of demand directly, but to question the fundamental suppositions upon which Arrow's analysis rests and the resulting conclusion that emerges.

Type
Articles
Information
Journal of the History of Economic Thought , Volume 15 , Issue 1 , Spring 1993 , pp. 54 - 71
Copyright
Copyright © Cambridge University Press 1993

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