Ramsay, George

Ramsay, George


Born Mar. 19, 1800, in Bamff House, Perth; died there Feb. 22, 1871. British economist and philosopher. One of the last exponents of classical economics.

Ramsay, who was educated at Cambridge University, wrote works on philosophy, psychology, and ethics, but he won renown for A n Essay on the Distribution of Wealth (1836).

K. Marx wrote that Ramsay’s main contribution consisted in “that he does in fact make the distinction between variable and constant capital (in K. Marx and F. Engels, Soch., 2nd ed., vol. 26, part 3, p. 337). Ramsay came close to achieving a correct understanding of surplus value and rate of profit. He noted that capital expended on wages sets in action a greater mass of labor than is actually embodied in it. He also criticized Smith’s theory. However, Ramsay was unable to carry to its conclusion his analysis of the distinction between constant and variable capital, which he confused with the distinction between fixed and circulating capital. He identified surplus value with profit, and he erroneously believed that both labor and “fixed capital” are the source of value. From Ramsay’s point of view, capitalist production was not the absolute form of production. However, this observation did not lead him to conclude that the downfall of the capitalist mode of production is historically inevitable.


Marx, K. “Teorii pribavochnoi stoimosti” (vol. 4 of Kapitat). In K. Marx and F. Engels, Soch., 2nd ed., vol. 26, part 3, pp. 337–73.


Mentioned in ?
References in periodicals archive ?
Richie Ramsay, George Murray, Chris Doak, Drysdale - they are just a few of the pros who can look back fondly at the Dunhill and it's whopping $5million prize fund for providing the springboard for their careers when they needed it most.
5Scott Stallings (USA), Matteo Manassero (Ita), (x) Garrick Porteous, Ashun Wu (Chn), David Duval (USA), Graham Delaet (Can), Kenichi Kuboya (Jpn), Marc Leishman (Aus), Bo Van Pelt (USA), Sandy Lyle, Richie Ramsay, George Murray, Steven Jeffress (Aus), George Coetzee (Rsa), Brooks Koepka (USA), (x) Ben Stow, Stephen Gallacher, K J Choi (Kor), Gregory Bourdy (Fra), Hyung-sung Kim (Kor) all 76
IT'S a star line-up any television show would be proud of - Coventry film star Clive Owen, Stratford chef Gordon Ramsay, George Michael, Lisa Tarbuck and Doctor Who star David Tennant.
Richie Ramsay, George Murray, Chris Doak, even last year's winner Oliver Wilson - they're just a few of the pros who can look back fondly at the Dunhill and its whopping PS3.
Their husbands, Gordon Ramsay, George Clooney, Pierce Brosnan.
He joins Alastair Forsyth, Stephen Gallacher, Richie Ramsay, George Murray, Steven O'Hara and Marc Warren in a fight for the top 10 places that guarantee a spot at Turnberry.
Scott Jamieson, Richie Ramsay, George Murray and myself are all in contention for the GB&I St Andrews Trophy team this year and to get four of us in that would be great.
But defeats for Richie, Eric Ramsay, George Murray and Saltman - at the second play-off hole - gave it to Germany.