The conventional version of Austrian business cycle theory focuses on a temporary imbalance between natural and monetary rates of interest. When, because of the role of monetary authorities in defining the monetary rate, the two values are in a situation of imbalance, the resulting expansion...

ABSTRACT The controversies between Ricardo and Malthus reached a new peak when Malthus published his pamphlet The Measure of Value Stated and Illustrated and Ricardo responded by his critical Notes on Malthus’s ‘Measure of Value’ (1823 [1992]) and by a further round of correspondence with...

The notion of wealth appears and reappears in Ricardo’s works within three different sets of arguments. One is concerned with the distinction between wealth and value, another with the causes of the progress of wealth, the third with the consequences of this progress on the trend of natural...