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197a.: malthus to ricardo1[Reply to Letter 197.—Answered by 199] - David Ricardo, The Works and Correspondence of David Ricardo, Vol. 11 General Index [1810]

Edition used:

The Works and Correspondence of David Ricardo, ed. Piero Sraffa with the Collaboration of M.H. Dobb (Indianapolis: Liberty Fund, 2005). Vol. 11 General Index.

Part of: The Works and Correspondence of David Ricardo, 11 vols (Sraffa ed.)

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197a.

malthus to ricardo1
[Reply to Letter 197.—Answered by 199]

[11 Jan. 1817]

[...] I am sorry to find from what you say that you do not feel yourself able to approach nearer to those opinions, which I still continue after repeated consideration to think correct.

Everything that has occurred lately appears to favour my idea of the all powerful efficacy of demand, and to shew that is very far indeed from depending merely on supply. I quite agree with you in thinking that the funds raised for the support of the poor (though perhaps necessary at the moment) essentially interfere with other employments. But this opinion appears to me to accord with my view of the subject, more than with yours. According to you and Say, if people were willing to subscribe and convert their revenue into capital, there ought to be no difficulty, if the sole want is the want of supply; but in my view of the subject there ought to be a difficulty, from the want of a proportionate demand.

I shall be most happy to visit you in Brook street the very first time I am in Town; but I have now been a truant for some time and must stay at home a little.

Mrs M joins me in kind regards to Mrs Ricardo Ever truly Yours

T. R. Malthus

[1 ]Addressed: “D. Ricardo Esqr. / Upper Brook Street / Grosvenor Square”. Incomplete, dated from postmark.

MS in the Rothschild Library, n. 1388 of the Catalogue.

Ricardo had asked Malthus for his opinion on the plan lately adopted for the relief of the poor by employing them on public works. He himself did not think it a very efficacious mode of relief, as it diverted funds from other employments. (Above, VII, 116.)