Things I learned from my students this year. 
 
1. Ricardo's original exposition of the theory is  
characteristically muddled. ... Ricardo uses potty examples  
to show and underpin his arguments.  
 
2. Keynes also argued that inflation was an evil. He  
mentioned deflation and saw that as a possible answer. 
 
3. The quantity theory has existed predominantly within  
agriculture. 
 
4. [In 1776] England was less complex with respect to  
structure as it is today. This allowed theories to be more  
general and incorporate less assumptions. 
 
Roger Backhouse  
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Roger E. Backhouse            [log in to unmask] 
Department of Economics        
University of Birmingham 
Edgbaston                     Phone:    0121 414 6655/+44 121 414 6655 
Birmingham  B15 2TT UK        Fax:      0121 414 7377/+44 121 414 7377 
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