ABSTRACT

In two articles (1973, 1975) and in my Economics of David Ricardo (1979) I have given a blow-by-blow account of the evidence relating to Ricardo's position on profits. Professor Garegnani's (1982) criticisms do not lead me to retract. Much of his argument is based on circumstantial evidence and fails to make accurate use of what Ricardo actually wrote on the matter, although he is aware of the materials available. The most useful path for me now is to review some of the key issues, limiting myself, however, to an examination of the evidence presented by Sraffa, who originated the hypothesis which is in dispute. There is no point in going further if this matter is not resolved.