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• W2100304082 abstract "PROFESSOR O'Brien has paid me the high compliment of subjecting my Economics of David Ricardo to a very close examination. I am grateful to him despite the fact that he takes strong exception to what he calls my frontal assault upon the accumulated body of Ricardo scholarship (34). I have given his objections the serious consideration which they merit, and find, in my turn, his defence of the textbook interpretation of Ricardo's economics to be unconvincing. I do not see that he adds to the documentation, primary and secondary, that was available and taken into account when I composed my volume or to the appropriate interpretation of that documentation. On the contrary, what he has to say convinces me that the consensus view does far less justice to Ricardo than the historical record dictates. Before turning to substantive matters I wish to correct a misapprehension. O'Brien suggests that my rejection of the standard or majority or unanimous interpretation of Ricardo-I use his terms (14, 26, 34)-stems from disagreement with (34). This is, in fact, not so: It is my belief that several of the Cambridge criticisms of equilibrium economics-substitutionist economics as I have heard it called by Sir John Hicks-have merit. But the question of the desirable content of modern economics must be kept apart from the historical record and it is solely the Cambridge reading of the history of nineteenth-century economics to which I object in my book. I might add that this is not the position with which I commenced my researches (see Hollander, 1973, 11-17); it was the outcome, not the starting point, of my analysis. I refer now, of course, to the illegitimacy of that interpretation which attributes to Ricardo an approach involving the treatment of distribution, natural prices and production levels by means of separate models-purportedly reflecting the isolation of one-way direction relationships or sequential analysis or the causal ordering of variables (Dobb, 1973; Pasinetti, 1974; Garegnani, 1976; Roncaglia, 1978). Now it is not only Cambridge that denies Ricardian economics the characteristic neo-classical interdependency of distribution and pricing. This same notion pervades the orthodox textbooks, including O'Brien's own The Classical Economists (1975). In his review O'Brien subscribes explicitly to one-way models as distinct from two (or n) way causation (8) in Ricardo interpretation-and it is apparent that the only economics that has merit for O'Brien is that entailing one-way-causality which, he believes, allows clear-cut prediction" @default.
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• W2100304082 date "1982-03-01" @default.
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• W2100304082 title "THE ECONOMICS OF DAVID RICARDO : A RESPONSE TO PROFESSOR O'BRIEN" @default.
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• W2100304082 doi "https://doi.org/10.1093/oxfordjournals.oep.a041544" @default.
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