neo-Ricardian economics

Neo-Ricardian economics is a modern approach that builds on the ideas of classical economist David Ricardo. It focuses on understanding how the distribution of income between workers and capital owners affects economic productivity and growth. This perspective emphasizes the role of the natural rate of profit, land, and resources, analyzing how technological changes and resource allocation influence overall economic performance. Unlike mainstream theories that often highlight demand, neo-Ricardian models stress the importance of production conditions, resource scarcity, and income distribution in shaping economic dynamics over time.