Theory of Money of David Ricardo: Quantity Theory and Theory of Value
What is to be underlined in characterizing the Ricardo’s quantity theory, is that it is a theory of determination of the value of money in a particular situation where money, whatever the form may be, shall be prevented from freely entering or leaving circulation. For Ricardo, the regulation of the...
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| Format: | Article |
| Language: | English |
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Universidad de Antioquia
2003-07-01
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| Series: | Lecturas de Economía |
| Subjects: | |
| Online Access: | http://aprendeenlinea.udea.edu.co/revistas/index.php/lecturasdeeconomia/article/view/2700/2156 |
| _version_ | 1818108038267011072 |
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| author | Susumu Takenaga |
| author_facet | Susumu Takenaga |
| author_sort | Susumu Takenaga |
| collection | DOAJ |
| description | What is to be underlined in characterizing the Ricardo’s quantity theory, is that it is a theory of determination of the value of money in a particular situation where money, whatever the form may be, shall be prevented from freely entering or leaving circulation. For Ricardo, the regulation of the value of money by its quantity is a particular case in which the adjustment of the market price to the natural price requires a long period of time. The quantitativist determination is not valid unconditionally, but only when the time of observation is shorter than that of this adjustment. The determination of the value of money is, in any case, barely linked to his theory of the value of commodities. Contrary to the commonly accepted interpretation, Ricardo did not apply to the determination of the value of money any theory of value different from that applied to commodities in general. |
| first_indexed | 2024-12-11T02:09:00Z |
| format | Article |
| id | doaj.art-64cc65df2acc4452a44a8e305147103a |
| institution | Directory Open Access Journal |
| issn | 0120-2596 |
| language | English |
| last_indexed | 2024-12-11T02:09:00Z |
| publishDate | 2003-07-01 |
| publisher | Universidad de Antioquia |
| record_format | Article |
| series | Lecturas de Economía |
| spelling | doaj.art-64cc65df2acc4452a44a8e305147103a2022-12-22T01:24:19ZengUniversidad de AntioquiaLecturas de Economía0120-25962003-07-01595973126Theory of Money of David Ricardo: Quantity Theory and Theory of ValueSusumu TakenagaWhat is to be underlined in characterizing the Ricardo’s quantity theory, is that it is a theory of determination of the value of money in a particular situation where money, whatever the form may be, shall be prevented from freely entering or leaving circulation. For Ricardo, the regulation of the value of money by its quantity is a particular case in which the adjustment of the market price to the natural price requires a long period of time. The quantitativist determination is not valid unconditionally, but only when the time of observation is shorter than that of this adjustment. The determination of the value of money is, in any case, barely linked to his theory of the value of commodities. Contrary to the commonly accepted interpretation, Ricardo did not apply to the determination of the value of money any theory of value different from that applied to commodities in general.http://aprendeenlinea.udea.edu.co/revistas/index.php/lecturasdeeconomia/article/view/2700/2156pensamiento económicoescuela clásicateorías del valormoneda |
| spellingShingle | Susumu Takenaga Theory of Money of David Ricardo: Quantity Theory and Theory of Value Lecturas de Economía pensamiento económico escuela clásica teorías del valor moneda |
| title | Theory of Money of David Ricardo: Quantity Theory and Theory of Value |
| title_full | Theory of Money of David Ricardo: Quantity Theory and Theory of Value |
| title_fullStr | Theory of Money of David Ricardo: Quantity Theory and Theory of Value |
| title_full_unstemmed | Theory of Money of David Ricardo: Quantity Theory and Theory of Value |
| title_short | Theory of Money of David Ricardo: Quantity Theory and Theory of Value |
| title_sort | theory of money of david ricardo quantity theory and theory of value |
| topic | pensamiento económico escuela clásica teorías del valor moneda |
| url | http://aprendeenlinea.udea.edu.co/revistas/index.php/lecturasdeeconomia/article/view/2700/2156 |
| work_keys_str_mv | AT susumutakenaga theoryofmoneyofdavidricardoquantitytheoryandtheoryofvalue |