Eric Roll, Baron Roll of Ipsden - Smith Quotes

3 Sourced Quotes

View all Eric Roll Quotes

Ricardo, writing fifty years later than Smith, showed a greater insight into the working of the economic system; but as for the subtlety (whatever demerit there may be in that!) the Scot does not lose by comparison with the Jew.

Eric Roll, Baron Roll of Ipsden

The physiocrats started a train of thought which was a powerful stimulus to the development of a labour theory of value and surplus value. They did not, however develop such a theory of value themselves. What attention they gave to the problem of exchange-value and price produced results of an altogether different character. Thus while one of their contributions finds its continuation in Smith, Ricardo, and Marx, the other leads to the post-classical supply and demand and utility theories of value.

Eric Roll, Baron Roll of Ipsden

Adam Smith himself was under no allusion about the desire of individuals, particularly business men, to create privileged positions for themselves.

Eric Roll, Baron Roll of Ipsden