----------------- HES POSTING ----------------- The first paragraph of Frank Knight's "Ricardian Theory of Production and Distribution" (Canadian Journal of Economics and Political Science, vol. 1, February 1935, p. 3) reads as follows: "On the assumption that the primary interest in the 'ancients' in such a field as economics is to learn from their mistakes, the principal theme of this discussion will be the contrast between the 'classical' system and 'correct' views. The system is taken in the sense indicated by the title, with little regard to other writers than Ricardo's own great master and the two successors most competent and closest to his own spirit, Senior and Mill. While our special interest is distribution theory, it is useful to have in the background clear views of essential doctrines or points of view in the authors' theory of value or price; for these are often closely connected with fallacies in the other field. It will be appropriate to give by way of introduction a kind of formal list of main deficiencies and sources of error in the system as a whole. At least seven such "aberrations" appear to have vital importance." That's about as close as I think you can come to the view that HE is the study of the wrong ideas of dead men (or, conversely, that HE exists to teach us correct theory by identifying the mistakes of the past). Ross Emmett ------------ FOOTER TO HES POSTING ------------ For information, send the message "info HES" to [log in to unmask]