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Cambridge Journal of Economics 25:697-703 (2001)
Copyright © 2001 Cambridge Political Economy Society

Notes and Comments

On Torrens's theory of profits

Giancarlo de Vivo

via Egiziaca a Pizzofalcone 43, I 80132, Naples, Italy; gidevivo{at}unina.it

Abstract

This paper is about the presence in Torrens's works of the 1810s and 1820s of a theory of profits based on an assumption of physical homogeneity between capital and product—a theory that derived from the ‘corn ratio’ theory of profits put forward by Ricardo in 1814–15. Some views about Torrens's theory and its Ricardian origin held by S. Hollander and T. Peach are also briefly discussed and are shown not to be well founded, and not to take into account correctly the evolution of Torrens's views on distribution.

Key Words: Ricardo • Sraffa • Torrens • Corn model


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