This article to dedicated to the 230th anniversary of the publishing of Adam Smith`s work “The Wealth of Nations” (9 March, 1776). The subject of our study is the liberal world of Smith and social welfare. We highlight his contribution as a founder of the “homo economiqus” model, which...

An increase in the demand for agricultural goods leads to the use of more intensive cultivation methods. Though Ricardo sees no difficulties in the intensification process, their existence is revealed by the possible occurrence of multiple equilibria. A general theory of intensive rent is based...

This note summarizes the symposium, "Say's Law Revisited." The most remarkable achievement of the symposium has been the manner in which it has cleared away important parts of the mythology which has surrounded Say's Law since the publication of the "General Theory". It is clear that what is...

Legal processes have a theatrical component to them. They offer an audience (the spectators) and actors (the legal parties, lawyers, as well as the jury and judge) who perform a play on the stage of the courtroom. In this paper we focus on the role of the jury, which appears to be simultaneously...

En este ensayo se pretende establecer la relación entre Ley de Say y el equilibrio clásico de igualdad de tasas de ganancias. Primero se define el equilibrio clásico dentro de una economía e igualmente se da una versión de la Ley de Say. Posteriormente, se esclarece la relación de estos...

What is to be underlined in characterizing the Ricardo’s quantity theory, is that it is a theory of determination of the value of money in a particular situation where money, whatever the form may be, shall be prevented from freely entering or leaving circulation. For Ricardo, the regulation...

This article explores the connection between Bernard Mandeville and Jeremy Bentham. Their analyses are complementary on two points: first, the descriptive sense of the utility principle, main axiom of Bentham's utilitarianism, relies on an implicit anthropological conception which Mandeville...

El modelo de equilibrio general walrasiano es el núcleo del paradigma neoclásico de la ciencia económica. Tras una breve exposición de su contenido y resultados teóricos, se presentan las principales críticas que una amplia literatura ha dirigido al modelo para descartarlo como una base...

Although Ricardo may be the first to give a numerical demonstration of debt neutrality, we argue that he is not the first to explore the concept. In particular, we contend that Adam Smith presents many of the same arguments as Ricardo. Moreover, Smith frames the equivalence issue in the same...