Document Type

Conference Proceeding



Format of Original

11 p.

Publication Date



History of Economics Society

Source Publication

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.


Published version. Published as part of the proceedings of the conference, HES Annual Conference 1984, 1984. Publisher Link. © 1984 History of Economics Society. Used with permission.

John Davis was affiliated with Michigan State University at the time of publication.

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