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Ricardo and Morishima on Machinery

Published online by Cambridge University Press:  11 June 2009

Takashi Negishi
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Extract

Following the appearance of John Barton Condition of the Labouring Classes of Society (1817), David Ricardo admitted, in the third edition (1821) of his Principles, that the process of mechanization may prove injurious to the working class.1 Michio Morishima claims, however, that he carefully investigates Ricardos chapter on machinery and shows that the introduction of machinery does not create unemployment (Morishima 1989, p. 14). In view of the importance of Ricardos machinery problemin the history of economic thought,2 aS well as its applicability in past and current cases of rapid industrialization,3 it is worthwhile to scrutinize Morishimas criticism of Ricardo carefully.

Type
Articles
Information
Journal of the History of Economic Thought , Volume 12 , Issue 2 , Fall 1990 , pp. 146 - 161
Copyright
Copyright © Cambridge University Press 1990

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