Robert Torrens


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Torrens, Robert

 

Born 1780 in Ireland; died May 27, 1864, in London. British political economist. Member of the Royal Society (1818).

In his works, dealing primarily with trade and the circulation of money, Torrens departed from D. Ricardo’s labor theory of value in favor of the vulgar economists’ conception of production costs. He held that the source of profit is not the exploitation of wage laborers but the selling of goods at prices exceeding their true value. As an exponent of the quantity theory of money, Torrens belonged to the currency school, whose ideas formed the basis of R. Peel’s bank act of 1844.

Torrens was an advocate of free trade.

WORKS

An Essay on the Production of Wealth. London, 1821.

REFERENCE

Marx, K. “Teorii pribavochnoi stoimosti, ” ch. 20. In K. Marx and F. Engels, Soch., 2nd ed., vol. 26, part 3, pp. 65–81.
A. A. KHANDRUEV
References in periodicals archive ?
Robert Torrens and the development of classical economics.
Un valor agregado adicional de la obra es introducir los desarrollos recientes sobre la contribucion de Robert Torrens.
11) Named after the man who devised it--Sir Robert Torrens as he was to become
It was called the theory of comparative advantage that went all the way back to Robert Torrens and David Ricardo almost two centuries ago.
Robert Torrens, services to cricket and football in Northern Ireland.
2) The objective of this system, pioneered in South Australia in 1858 by Sir Robert Torrens, (3) 'is to save persons dealing with registered proprietors from the trouble and expense of going behind the register, in order to investigate the history of their author's title, and to satisfy themselves of its validity.
Robert Torrens actually beat Ricardo into print by two years.
Robert Torrens, 8 Stamperland Gardens, Glasgow G76 8HG.
John Stuart Mill, Robert Torrens, Alfred Marshall, Francis Ysidro Edgeworth, and Abba Lerner all contributed to the diagram's development and policy applications.
This changed in the first half of the twentieth century when multiple economists highlighted the role of Robert Torrens.
El articulo esta organizado como sigue: La primera seccion presenta la teoria de Robert Torrens.
In his second reading speech on the Bill that was to be enacted as the first Torrens legislation in Australia, Sir Robert Torrens himself, as a member of the South Australian Parliament, identified as one of the central principles of the system that the Bill was designed to introduce, 'that registered titles, except in cases where registration [is] procured by fraud, should be absolutely indefeasible.