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RESEARCH PRODUCT
Consumption patterns, development and growth: Adam Smith, David Ricardo and Thomas Robert Malthus
Davide FiaschiRodolfo Signorinosubject
Consumption (economics)Consumption growth classic economicsSay's lawHistory and Philosophy of ScienceSettore SECS-P/04 - Storia Del Pensiero EconomicoProperty rightsGeneral Arts and HumanitiesEconomics Econometrics and Finance (miscellaneous)EconomicsAdam smithNeoclassical economicsDevelopment theoryInvestment (macroeconomics)description
In this paper we combine the classical analysis of luxury consumption with the classical theories of development and growth. We also focus on the role played, within classical economics, by institutional factors such as the structure of property rights and contractual arrangements in determining consumption patterns and investment in agriculture. In particular, we show that Ricardo's and Malthus' different views on the role of consumption expenditure in promoting growth depend on Ricardo's acceptance (Malthus' refusal) of Say's law of markets and on Ricardo's exclusion (Malthus' inclusion) of a non-commodity option such as leisure from (in) the range of available consumption alternatives.
| year | journal | country | edition | language |
|---|---|---|---|---|
| 2003-04-01 | The European Journal of the History of Economic Thought |