Ricardo's Simple-Minded Suicidal Labor Value Theory
6 Pages Posted: 18 Jan 2014
Date Written: January 16, 2014
Abstract
This paper disproves Ricardo’s simple relation between cost and price. Instead, it shows that a more valuable worker may lead to lower price, or more quantity and profit. This paper also shows that practicing Ricardo’s simple-minded logic is despotic with suicidal result, and that its detrimental influence is still inflicting devastation everywhere.
Keywords: Supply, Cost, Labor, Karl Marx
JEL Classification: D24, J01
Suggested Citation: Suggested Citation
Choi, Hak, Ricardo's Simple-Minded Suicidal Labor Value Theory (January 16, 2014). Available at SSRN: https://ssrn.com/abstract=2380381 or http://dx.doi.org/10.2139/ssrn.2380381
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