...the form, , i = 0, l,...,n. (1) at As for the adjustment of prices, Ricardo had the following view: It is the cost of production which must ultimately...for a time, affect the market value of a commodity, . . . but this effect will be only of temporary duration, (p. 382) He also says, The opinion that the...

...supply-and-demand relation only affects market prices; natural prices are traced to the difficulty of production: It is the cost of production which must ultimately...but this effect will be only of temporary duration. (1951, I, p. 382; see also quotations in Hollander, 1979a, ch. 6) Yet Hollander claims ( 1 979a, p....

...16. This repeats, in essence, Ricardo's argument, op. cit., pp. 90-91. 17. Ibid., pp. 88-91. 18. " It is the cost of production which must ultimately...regulate the price of commodities, and not, as has been oflen said, the proportion between supply and demand", ibid., p. 382. This, of course, supports the...

...A Re-Interpretation1 SC Rankin Source: Oxford Economic Papers, Vol. 32 (2), July 1980, pp. 241-62. It is the cost of production which must ultimately...regulate the price of commodities, and not, as has often been said, the proportion between the supply and demand. . . . The opinion that the price of...

...ongoing overlapping between these levels of abstraction. One of Ricardo's principal propositions is that: "It is the cost of production which must ultimately...commodities, and not, as has been often said, the proposition between the supply and demand: the proportion between supply and demand may, indeed for...

...overlapping between these levels of abstraction. One of Ricardo' s principal propositions is that: "It is the cost of production which must ultimately...commodities, and not, as has been often said, the proposition between the supply and demand: the proportion between supply and demand may, indeed for...

...Ricardo, however, does not want to admit this. It is labour 'expended' on the production of goods, and 'it is the cost of production which must ultimately regulate the price of commodities and not . . . the proportion between supply and demand.' There must be an objective force, a basic, stable,...

...he drew between Quantity of Labour and Cost of Production, and treats them as identical. He says, " It is the Cost of Production which must ultimately...regulate the price of commodities, and not, as has often been said, the proportion between the Supply and Demand. . . . "The opinion that the price of...

...ultimately the labor cost of production, both direct and indirect, that regulates the value of commodities: "the proportion between supply and demand may, indeed,...abundance, according as the demand may have increased or decreased; but this effect will be only of temporary duration" (383). But in the long run, "the prices...

...mistaken the principle by which the price of commodities is regulated! Mr Ricardo contends, that "// is the cost of production which must ultimately regulate the price of commodities" But this, we are assured, is an entire mistake, The cost of production, we are told, has nothing at...