Ricardo's Simple-Minded Suicidal Labor Value Theory

6 Pages Posted: 18 Jan 2014

See all articles by Hak Choi

Hak Choi

Chienkuo Technology University - Department of International Business; Chung-Hua Institution for Economic Research

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

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

Hak Choi (Contact Author)

Chienkuo Technology University - Department of International Business ( email )

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Changhua City, 500
Taiwan
+886 91 901-4618 (Phone)

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Chung-Hua Institution for Economic Research ( email )

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Taipei
Taiwan

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