The classical classical fallacy.
The writer rebuts the classical fallacy held by economists—including David Ricardo, Karl Marx, and Adam Smith—that said that “fixed capitals” are prejudicial to wages and the demand for labor, whereas “circulating capitals” are allegedly favorable to the real wage rate and to the demand for labor....
| Published in: | Journal of Economic Literature Vol. 32; pp. 620 - 640 |
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| Format: | Article |
| Published: |
American Economic Association
June 1994
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| Subjects: | |
| Online Access: | View this record in EBSCOhost |