Format of Original
History of Economics Society
History of Economics Society Proceedings
It is generally believed that the addition of the "On Machinery" chapter to the third edition of the Principles little changed Ricardo's basic analysis of the accumulation process in early nineteenth century England. however, Ricardo's admission - and reversal of his former opinion - that involuntary unemployment might well occur with the introduction of labor-displacing machinery does alter the relationship between landlords, capitalists, and laborers, as well as change the opportunities for capital accumulation. This paper examines these changes, and their impact upon the conception of the first two editions of the Principles.