Ricardo, o tempo e o valor
DOI:
https://doi.org/10.1590/S0101-41612014000100005Keywords:
Ricardian economics, Labor theory of value, Time, Profit rateAbstract
This paper reviews the evolution of the Ricardian theory of value in its connection with
the element time. Initially, Ricardo’s first version of the general law of exchange is briefly
inspected. After that, a numerical illustration of the formula for competitive prices
is detailed, while some light is shed on how the factor time arose in the discussions
about the theory advanced in the Principles. Next, the simplified version of the norm of
value introduced in the book’s third edition is examined, as well as the central Ricardian
proposition that changes in the profit rate would have minimum impact on prices. The
last section shows that a generalization of the same example concocted by Ricardo,
incorporating multiple production periods, does not lend support to such assertion.
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