Questions for review and discussion

The Classical School: Ricardo and Malthus

1. Explain and critically evaluate Malthus’s population theory.

2. Contrast and compare Ricardo’s and Smith’s methodologies.

3. Indicate the difference between Smith’s contextual and Ricardo’s noncom-textual policy
analysis.

4. Explain Ricardo’s theory of land rent and point out the relationship between viewing rent
from the product side and viewing it from the cost side.

5. Summarize Ricardo’s labor theory of value.

6. Explain Ricardo’s theory of distribution and his views about changes in the distribution
of income over time.

7. State Ricardo’s theory of comparative advantage and explain how people are made better
off by free trade.

8. Critically evaluate the argument between Ricardo and Malthus concerning the stability of
a market system.