In the aftermath of the Napoleonic Wars Britain found itself faced with a stagnant economy. Economist David Ricardo believed that the full re-integration of Britain into the world market would allow for both capital accumulation and population growth, and used arguments that anticipate ideas entertained in modern contributions to the theory of economic growth and development. However, several of these arguments have not yet been translated into the language of modern classical economics. Ricardo’s Theory of Growth and Accumulation seeks to overcome this striking lacuna. The latest entry in the Graz Schumpeter lecture series, this text explores and elaborates Ricardo’s arguments and the models utilized by those who subsequently followed in support of his work. The Ricardian system is first examined through a one-sector economy, following Kaldor’s model, and a two-sector economy, following Pasinetti’s model. These building blocks are developed through the exploration of a small open economy, which allows an analysis of the impact of international trade in exceedingly simple circumstances. This discussion expands further by considering the world economy. More sophisticated variants of the two-sector model are presented, in which commodity prices are endogenously determined by the trading interplay amongst several countries. A final analysis makes Ricardo’s case by introducing accumulation in the world economy. This book is of interest to students and scholars of Ricardo, classical economics, and – more broadly – growth theory, the theory of international economics, and globalization. The author was keen to render the analytical parts compelling to the historian and the historical parts compelling to the theorist.

The book presents a rigorous reconstruction of Ricardo's contribution to economic theory and a unifying interpretation of the key issues of Ricardo's research. Part One deals primarily with the problems of value and distribution Part Two deals specifically with the issues of distribution and growth. * Contemporary economic literature in the fields of value, distribution and growth is witnessing a renewed interest in the approach of the classical school, notably in the work of David Ricardo.

A clear and concise history of economic thought, developed from the author's award-winning book, The Wealth of Ideas.

Walter Eltis's classic account of the theories of growth and distribution of Frangois Quesnay, Adam Smith, Robert Malthus, David Ricardo and Karl Marx is reprinted with a substantial new Introduction setting the work in a broader context.

"Papers ... of a seminar held at Dartmouth College in July and August of 1956." Includes bibliographical references. Mercantilist and physiocratic growth theory, by J.J. Spengler.--Adam Smith and David Ricardo on economic growth, by J.M. Letiche.--The theory of economic growth in the English classical school, by E. McKinley.--John Stuart Mill on economic development, by J.J. Spengler.--Toward a theory of economic growth: the neoclassical contribution, by J. Buttrick.--Theories of stages of economic growth, by B.F. Hoselitz.--Contemporary theorizing on economic growth, by H.J. Bruton.

Growth theory is a branch of economics that seeks to understand the mechanisms behind sustained economic growth and development. It emerged in response to the question of why some countries experience rapid and sustained increases in per capita income over time while others do not. One of the foundational models in growth theory is the Solow-Swan model, developed by Robert Solow and Trevor Swan in the 1950s. This model highlights the role of capital accumulation, labor force growth, and technological progress in driving economic growth. According to the Solow-Swan model, economies converge to a steady state level of output per capita, where the rate of growth is determined by exogenous factors such as technological progress. However, the Solow-Swan model faced criticisms for not adequately explaining the sources of technological progress and the role of human capital. This led to the development of endogenous growth theory, pioneered by economists like Paul Romer. Endogenous growth theory emphasizes the importance of factors such as research and development, human capital accumulation, and knowledge spillovers in driving long-term economic growth.

This book completes the record on Ricardian value theory and fills the last gap in our knowledge of the development of Ricardo's thinking.