The Italian university system has undergone two reforms in recent years. One has been introduced by the Ministerial Decrees 3 November 1999, n. 509 and 22 October 2004 n. 207. The other has been introduced by the law 23 December 2000 n. 388 art. 59, c.3. and by the Presidential Decree 24 May...

This paper is focused on the notion of wealth as used by different authors in different periods of time. The paper deals with the contrast between the notion of wealth shared by all major classical economists, particularly by Adam Smith, and the notion previously held by the Mercantilists (by...

The distinction between ‘value’ and ‘riches’ was first highlighted by Ricardo in Chapter XX, ‘Value and Riches, their distinctive Properties’, of his Principles (1821). Ricardo’s aim was to clear up Smith’s famous statement that “every man is rich or poor according to the...

The distinction between ‘value’ and ‘riches’ was first highlighted by Ricardo in Chapter XX, ‘Value and Riches, their distinctive Properties’, of his Principles (1821). Ricardo’s aim was to clear up Smith’s famous statement that “every man is rich or poor according to the...

The wage-profit relationship is usually linked up with Ricardo and his notion of “proportional wages” (Principles, Chapters I, VI and passim). This relationship is based on Ricardo’s theory of value and supports his diminishing-returns-to-agriculture theory of the falling rate of profit. A...

The wage-profit relationship is usually linked up with Ricardo and his notion of “proportional wages” (Principles, Chapters I, VI and passim). This relationship is based on Ricardo’s theory of value and supports his diminishing-returns-to-agriculture theory of the falling rate of profit. A...

The role of “errors in time” (Fanno, 1933) or “disappointment of expectations” (Hicks, 1933) was a major object of analysis in the years of high theory when it contributed to the replacement of the paradigm of General Equilibrium Theory by the new paradigm of the Economics of Uncertainty...

Ricardo’s criticisms of Adam Smith on value and wealth have been sometimes rejected and sometimes accepted in the period following the publication of his Principles. By contrast, they have been mostly ignored in the recent revivals of Ricardian economics both in the branch concerned with value...

Schumpeter’s remarks on Ricardo’s criticisms of Smith’s system of thought (1954, p.472) can be further articulated by noting that while Ricardo’s most explicit and fundamental criticisms reach a climax in his chapter On Value, a number of explicit criticisms are concerned with apparently...

The role of errors in time (Fanno, 1933) or disappointment of expectations (Hicks, 1933) in the theory of fluctuations was a major object of analysis in the years of high theory (Shackle, 1967) when the paradigm of General Equilibrium Theory was replaced by the new paradigm of the Economics of...