Most Marxists simply took the concept of production prices for granted, as being more or less the same as Ricardo's idea, and they did not inquire into it in precise detail.

Ricardo's theory was a predecessor of the modern theory that equilibrium prices are determined solely by production costs associated with " neo-Ricardianism ".

Classical economist David Ricardo's labor theory of value holds that the value of a good ( how much of another good or service it exchanges for in the market ) is proportional to how much labor was required to produce it, including the labor required to produce the raw materials and machinery used in the process.

) Also notable in Ricardo's economic theory was that profit was a deduction from society's output and that wages and profit were inversely related: an increase in profit came at the expense of a reduction in wages.

It was to meet with Nelson, Drake's brother, to arrange their reunion rendezvous, via which Nelson would escape China in Ricardo's Beechcraft.

That night, Westerby takes Marshall from an opium den and interrogates him, learning that Lizzie was a heroin courier for Collins ; that she directly intervened with Drake on Ricardo's behalf ; that Tiu offered Marshall $ 5, 000 for a flight, which he turned down ; and where, between flights, Ricardo currently hides.

Extending from Ricardo's investigation of income distribution, Wicksell concluded that even a totally unfettered economy was not destined to equalize wealth as a number of Wicksell's predecessors had predicted.

Fedden's family was the first in the area to own a car, an interesting parallel with Harry Ricardo's.

In the first and second series, he and his dad ran a music shop and in series two Taj, Omar, Missy and Ricardo thought that Taj's mum was going out with Ricardo's dad.

Arnaz recalled that the only exception consisted of making fun of Ricky Ricardo's accent, and noted that even these jokes worked only when Lucy, as his wife, did the mimicking.

Ricardo's labor theory of value is not a normative theory, as are some later forms of the labor theory, such as claims that it is immoral for an individual to be paid less for his labor than the total revenue that comes from the sales of all the goods he produces.

Herman Daly, a leading voice in the discipline of ecological economics, emphasizes that although Ricardo's theory of comparative advantage is one of the most elegant theories in economics, its application to the present day is illogical: " Free capital mobility totally undercuts Ricardo's comparative advantage argument for free trade in goods, because that argument is explicitly and essentially premised on capital ( and other factors ) being immobile between nations.

With international variations in the capital endowment ( i. e. infrastructure ) and goods requiring different factor proportions, Ricardo's comparative advantage emerges as a profit-maximizing solution of capitalist's choices from within the model's equations.

Two simple ways to understand the proposed benefits of free trade are through David Ricardo's theory of comparative advantage and by analyzing the impact of a tariff or import quota.

It builds on David Ricardo's theory of comparative advantage by predicting patterns of commerce and production based on the factor endowments of a trading region.

He also did excellent service by pointing out the arbitrary novelties — and frequent inconsistencies of terminology which deface Ricardo's principal works, for example, his use of value in the sense of cost of production, and of high and low wages in the sense of a certain proportion of the product as distinguished from an absolute amount, and his peculiar employment of the epithets fixed and circulating as applied to capital.

Westerby pursues Ricardo, by ferry, across the Mekong River into Thailand ; Ricardo tells Westerby that Tiu, on behalf of Ko, hired Ricardo to fly opium into China and pick up a package, paying Ricardo's debts as an advance for the job ; instead of completing the job, Ricardo stole the opium and the Beechcraft airplane and went into hiding.

It builds on David Ricardo's theory of comparative advantage by predicting patterns of commerce and production based on the factor endowments of a trading region.

Karl Marx adds a distinction that is often confused with David Ricardo's.

In Junie B. Jones is a Party Animal it is shown that Junie B knows Ricardo's father.

Principles of Political Economy is ostensibly Ricardo's effort to fill that gap in the literature.

The law of value is a central concept in Karl Marx's critique of political economy, first expounded in his polemic The Poverty of Philosophy ( 1847 ) against Pierre-Joseph Proudhon, with reference to David Ricardo's economics.

Capitalist economic exchange, Marx argues ( contrary to David Ricardo's theory ), is not a simple exchange of equivalent values.

Ricardo's girlfriend is Tamsin.

Ricardo's Dad ( Mr. Mike Murray, who is never seen ) runs the Record Shop ( Murray's Hip City ).

Now that Ricardo Murray and his Dad have left the area there is a new guy on the block and he has taken over Ricardo's dad's music shop.

In 1974, Robert J. Barro provided some theoretical foundation for Ricardo's hesitant speculation

This belief echoes David Ricardo's comparative advantage thesis and criticizes Marxist revolutionaries ' push for economic self-reliance in that it pushes for the ' initial ' development of only one or two sectors over the development of all sectors equally.

* Texas Family Cover article on Ricardo's Crusade for a Cancer Cure

( This meant that the original HO-model produced an alternative explanation for free trade to Ricardo's, rather than a complementary one ).

Any undergraduate course in trade theory includes a presentation of Ricardo's example of a two-commodity, two-country model.

Using Ricardo's classic example:

Those who ignore the effects of long run trade deficits may be confusing David Ricardo's principle of comparative advantage with Adam Smith's principle of absolute advantage, specifically ignoring the latter.

In addition to Adam Smith's legacy, Say's law, Malthus theories of population and Ricardo's iron law of wages became central doctrines of classical economics.

However, classical liberals rejected Adam Smith's belief that the " invisible hand " would lead to general benefits and embraced Thomas Malthus ' view that population expansion would prevent any general benefit and David Ricardo's view of the inevitability of class conflict.

Based on the discrepancy between the wages of labor and the value of the product, the " Ricardian socialists " — Charles Hall, Thomas Hodgskin, John Gray, and John Francis Bray — applied Ricardo's theory to develop theories of exploitation.

Other early socialist thinkers, such as Thomas Hodgkin and Charles Hall, based their ideas on David Ricardo's economic theories.

When his parents tried to get a divorce, he ran away to Guadalajara to live with his godmother, but Memin, who accompanied him, left a note to Eufrosina, leading Ricardo's parents to them.

Marx built much of the formal economic analysis found in Capital on Ricardo's theory of the economy.

He appeared in three guest shots on the show: twice as Ricky Ricardo's boss, Alvin Littlefield, owner of the Tropicana Club where Ricky's band played, and later as a judge on a Lucy-Desi Comedy Hour episode.

* Economist John Stuart Mill called Ricardo's Law of Rent the Pons Asinorum of economics.

Technical significance of the FW series includes an interpretation of Sir Harry Ricardo's intake turbulence theory, whereby intake and exhaust valves are tilted to the same side of the engine where intake and exhaust ports are located.

Smiley quickly grasps the implication of Tiu's ( Ko's second-in-command ) quick trip to Shanghai six weeks before Ricardo's planned opium cargo flight to Red China.