The Application of Capital to Land (Classic Reprint)

The Application of Capital to Land Classic Reprint Excerpt from The Application of Capital to Land A careful student of the history of economic theories has described Sir Edward West as the first though not the name father and greatest of the Ricardi

Excerpt from The Application of Capital to Land A careful student of the history of economic theories has described Sir Edward West as the first, though not the name father and greatest of the Ricardian school, and has added in further explanation, It is impossible to read West s pamphlet without seeing that the form in which the law of diminishing returns was subseExcerpt from The Application of Capital to Land A careful student of the history of economic theories has described Sir Edward West as the first, though not the name father and greatest of the Ricardian school, and has added in further explanation, It is impossible to read West s pamphlet without seeing that the form in which the law of diminishing returns was subsequently taught, and the phraseology in which it was expressed, are far due to him than is imagined by those who only know him as the subject of a civil reference in Ricardo s preface This comparative neglect dates back to West s contemporaries I have read his book with attention, and I find that his views agree very much with my own, wrote Ricardo to Malthus on March 9, 1815 In 1817, in the Preface iv to the Principles of Political Economy and Taxation, Ricardo deliberately linked West with Malthus as having presented to the world, nearly at the same moment, the true doctrine of rent But a year later September 18, 1818 , his verdict expressed to Hutches Trower was distinctly vaguer His pamphlet was ingenious, and he had a glimpse of the true doctrine of rent and profits In Ricardo s subsequent writings, formal and informal, West is not again referred to Malthus and James Mill make no mention of him Even McCulloch, whose scent for anything like an anticipation of an accepted doctrine was the keenest, merely speaks of the rent tracts of West and Malt

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The Application of Capital to Land (Classic Reprint)

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