Classical and Marxian Political Economy: Essays in Honour of by Ian C. Bradley, M.C. Howard

By Ian C. Bradley, M.C. Howard

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361-412). Ricardo (WorksiV,p. 397). Meek argues that Ricardo took this line because he came to identify 'labour embodied' as the sole 'real cost' of production. For example, in his critique of Smith's concept of an invariable standard (Ricardo, Works I, ch. 1 ). Schumpeter (1954, pp. 596, 390). See also Meek (1967, pp. 51-74), Dobb (1973, pp. 96-120) and Meek (1977, pp. 149-64). Ricardo's analysis 'leads to erroneous results because it omits some essential links and directly seeks to prove the congruity of economic categories with one another' (Marx, 1862b, pp.

L. (1977) Smith, Marx and After (London, Chapman & Hall). MILGATE, M. (1979) 'On the origin of the notion of "intertemporal equilibrium"', Economica, vol. 46, pp. 1-10. MILL, J. S. (1848) Principles of Political Economy (Harmondsworth, Penguin, 1970). MORISHIMA, M. (1973) Marx's Economics (Cambridge University Press). 42 Classical and Marxian Political Economy MORISHIMA, M. (1977) Walras's Economics (Cambridge University Press). MORISHIMA, M. and CATEPHORES, G. (1978) Value, Exploitation and Growth (New York, McGraw-Hill).

See also Meek (1976, pp. 164, 177,219-29, 242-3). See also Meek (1967, pp. 18-33). Meek also stressed that Smith's new conceptualisation was not that which appeared the obvious one to adopt. Smith 'possessed that peculiar faculty ... of being able to discern in the world about him those features which although not preponderant now are destined to become so as the result of a process of social development' (Meek, 1962, p. 320). On this mattersee, for example, Meek (1977, pp. 149-75), Schumpeter (1954, pp.

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