Ricardo Was Right!
分析李嘉图关于机器发明可能减少劳动需求、工资和国民收入的论点是否正确，并解释为何主流经济学家怀疑他，最后评估讨论中的政治和意识形态方面。
Ricardo added a chapter On Machinery to the third and last edition of his Principles. In it, he contended that invention of machinery could reduce (i) the demand for labor, (ii) wages, and (iii) national income. This paper is devoted to the analytical questions of whether Ricardo was right that viable invention can reduce the total of real output after all competitive prices adjust to clear all markets, and why so many mainstream economists doubt Ricardo. After a defense of Ricardo's analysis, the political and ideological aspects of the historical discussions are evaluated. Mathematical proofs are provided in an Appendix.