M for Marginalism by Michael Hudson


Image by duncan via Flickr

by Michael Hudson
Writer, Dandelion Salad
January 22, 2014

Part M in the .

Malthus, Thomas Robert (1766-1834): British economist and spokesman for its landlord class. His Principles of Political Economy (1820) countered Ricardo’s critique of groundrent by pointing out that landlords spent part of it on hiring coachmen and other servants and buying luxury products (coaches, fine clothes and so forth), thus providing a source of demand for British industry, and part capital improvements to raise farm productivity. Continue reading