Ricardian Poets
Ricardian may refer to: * A follower of Ricardian economics, named after economist David Ricardo (1772–1823). See also: ** Ricardian socialism ** Ricardian contract ** Ricardian equivalence ** Neo-Ricardianism * Ricardian (Richard III) Ricardians are people who dispute the negative posthumous reputation of King Richard III of England (reigned 1483–1485). Richard III has long been portrayed unfavourably, most notably in William Shakespeare, Shakespeare's Play (theatre), play ...

Ricardian Economics
Ricardian economics are the economic theories of David Ricardo, an English political economist born in 1772 who made a fortune as a stockbroker and loan broker.Henderson 826Fusfeld 325 At the age of 27, he read '' An Inquiry into the Nature and Causes of Wealth of Nations'' by Adam Smith and was energised by the theories of economics. His main economic ideas are contained in '' On the Principles of Political Economy and Taxation'' (1817). This set out a series of theories which would later become theoretical underpinnings of both Marx's ''Das Kapital'' and Marshallian economics, including the theory of economic rent, the labour theory of value and above all the theory of comparative advantage. Ricardo wrote his first economic article ten years after reading Adam Smith and ultimately, the "bullion controversy" gave him fame in the economic community for his theory on inflation in 19th-century England. This theory became known as monetarism, the theory that excess currency lead ...
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Ricardian Socialism
Ricardian socialism is a branch of classical economic thought based upon the work of the economist David Ricardo (1772–1823). Despite Ricardo being a capitalist economist, the term is used to describe economists in the 1820s and 1830s who developed a theory of capitalist exploitation from the theory developed by Ricardo that stated that labor is the source of all wealth and exchange value. This principle extends back to the principles of English philosopher John Locke. The Ricardian socialists reasoned that labor is entitled to all it produces, and that rent, profit and interest were not natural outgrowths of the free market process but were instead distortions. They argued that private ownership of the means of production should be supplanted by cooperatives owned by associations of workers. This designation is used in reference to economists in the early 19th century that elaborated a theory of capitalist exploitation from the classical economic proposition derived from A ...
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Ricardian Contract
The Ricardian contract (or Riccy), as invented by Ian Grigg in 1996, is a method of recording a document as a contract at law, and linking it securely to other systems, such as accounting, for the contract as an issuance of value. It is robust through use of identification by cryptographic hash function, transparent through use of readable text for legal prose and efficient through markup language to extract essential information. A Ricardian contract places the defining elements of a legal agreement in a format that can be expressed and executed in software. The method arises out of the work of Ian Grigg completed in the mid-1990s in contributions to Ricardo, a system of assets transfers that was built in 1995-1996 by Systemics and included the pattern. Definition Diagram The Ricardian contract separates the agreement of parties across time and domain. On the left of the "Bowtie" representation, the negotiation and formation of a legally binding contract leads to a single pa ...
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Ricardian Equivalence
The Ricardian equivalence proposition (also known as the Ricardo–de Viti–Barro equivalence theorem) is an economic hypothesis holding that consumers are forward-looking and so internalize the government's budget constraint when making their consumption decisions. This leads to the result that, for a given pattern of government spending, the method of financing such spending does not affect agents' consumption decisions, and thus, it does not change aggregate demand. Introduction Governments can finance their expenditures by creating new money, by levying taxes, or by issuing bonds. Since bonds are loans, they must eventually be repaid—presumably by raising taxes in the future. The choice is therefore "tax now or tax later." Suppose that the government finances some extra spending through deficits; i.e. it chooses to tax later. According to the hypothesis, taxpayers will anticipate that they will have to pay higher taxes in future. As a result, they will save, rather than s ...
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Neo-Ricardianism
The neo-Ricardian school is an economic school of thought that derives from the close reading and interpretation of David Ricardo by Piero Sraffa, and from Sraffa's critique of neoclassical economics as presented in his ''The Production of Commodities by Means of Commodities'', and further developed by the neo-Ricardians in the course of the Cambridge capital controversy. It particularly disputes the neoclassical theory of income distribution. Robert Rowthorn, in his 1974 articleNeo-classicism, neo-Ricardianism and Marxismin the New Left Review (I, 86), coined the name. Franklin Delano Roosevelt III, with his dissertation, ''Towards a Marxist Critique of the Cambridge School'', put forth a similar view. The name "Sraffian economics" is also used.Heinz D. Kurz and Neri Salvadori, "Neo-Ricardian economics", in Gilbert Faccarello, Heinz D. Kurz (eds.), ''Handbook on the History of Economic Analysis, Volume II: Schools of Thought in Economics'' (2016) Prominent neo-Ricardians are ...
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