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Published in:
2013 | OriginalPaper | Chapter
Ricardo’s Macroeconomics
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In this chapter we shall need to deal with two of the ‘new views’ of Ricardo. The first is one that was touched on in chapter 3. It concerns his thinking on the long-run prospects for real wages, and hence for the living standards of the great majority of the population. This question is considered in the first section of the chapter, since it has a very direct bearing on Ricardo’s attitude towards economic growth and the possibility that it would eventually peter out.