The Economics of Robert Torrens: Later Developments of the Ricardian Economics

2015 Fiscal Year Final Research Report

• Project/Area Number: 25780144
• Research Category: Grant-in-Aid for Young Scientists (B)
• Allocation Type: Multi-year Fund
• Research Field: Economic doctrine/Economic thought
• Research Institution: Kobe University
• Principal Investigator: HISAMATSU TARO 神戸大学, 経済学研究科(研究院), 准教授 (60550986)
• Project Period (FY): 2013-04-01 – 2016-03-31
• Keywords: トレンズ / リカードウ

Outline of Final Research Achievements

Despite his occasional criticism of Ricardo’s principles of political economy, Torrens would accept and incorporate them into his own economic theories. His interpretation of Ricardo, however, was sometimes different from the author’s intended meaning. Torrens’ claims on international trade, including comparative advantage and gains from trade, caught the attention of J. S. Mill and other famous twentieth century economists, who debated on the matter of who would be the true father of comparative advantage: Ricardo or Torrens? This debate led modern economists to believe that Ricardo was the father of the principles found in the so-called Ricardian trade model presented in modern international economics textbooks, an erroneous interpretation of which dissemination Torrens was involved in.

Free Research Field

経済学史