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It was great to see this in a graphed representation that I can better reduce to formulas for my notes.
But the long run tendency toward the subsistence wage raised an eyebrow for me on two points. First, the implications that this theory would have for socialists in an agrarian society would have been tremendous, if Malthus was first taken as unshakeable gospel. Second, were there some assumptions buried in the setting up of this prediction, such as trade policy /and it's effects on international corn price, which would be relevant if the amount of arable land in a nation was well and truly fixed/, slow technological change /for this case, no new plows, conventionally bred crop strains, irrigation methods, farm implements, etc/?
True, I am looking at all this spoiled with the basic Solow model, but surely Ricardo lived in exciting enough times to think that such a prediction would rest on a long list of static values.