Page:The Economic Journal Volume 1.djvu/503

Rh as Dr. Böhm-Bawerk. 'It was the development and popularising of the Ricardian theory of value which supplied the scientific soil, out of which the Exploitation theory could naturally spring and grow.'

In order that Ricardo should be altogether freed from the reproach of giving any countenance to Socialist doctrines, it is necessary to go further, and to argue that he did not-teach 'the iron law of wages.' This Professor Marshall does in the following passage:

This very strong assertion is supported in a footnote by the quotation of a certain passage from Ricardo's fifth chapter. Professor Marshall evidently attaches great weight to this particular passage; in a note on the next page he expresses his surprise that it should have escaped the attention of J. S. Mill. But, on examining the passage in question, it will be found that it does not appear in Ricardo's first edition, and that it is by no means certain that it means quite all Professor Marshall gets out