CHAPTER V

RICARDO AND THE TRUE CLASSICAL LABOR THEORY

§ 1. General estimate of Ricardo’s theory 41

§ 2. At foundation an attempt to reconcile the “philosophical” and “empirical” accounts 42

§ 3. Preliminary conditions of the theory laid down by Ricardo himself 44

§ 4. How determine quantity of labor; unsatisfactory treatment of skilled labor; labor indirectly applied 46

§ 5. The introduction of interest on capital as an element in cost of production (i. e., entrepreneur’s cost) 49

§ 6. In Ricardo’s conception, interest enters into Natural Price or Normal Value, though he does not make this clear 50

§ 7. Essence of Ricardo’s explanation of the complication of interest 52

§ 8. Peculiarly round-about form of statement of the same 53

§ 9. Ricardo’s explanation of the complication also positively misleading 55

§ 10. Summary 56