Robert Torrens

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The following article is from The Great Soviet Encyclopedia (1979). It might be outdated or ideologically biased.

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.


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


Marx, K. “Teorii pribavochnoi stoimosti, ” ch. 20. In K. Marx and F. Engels, Soch., 2nd ed., vol. 26, part 3, pp. 65–81.
The Great Soviet Encyclopedia, 3rd Edition (1970-1979). © 2010 The Gale Group, Inc. All rights reserved.
References in periodicals archive ?
Such an argument was made by Robert Torrens as early as 1829 in his "An Essay on the External Corn Trade", arguing for the UK's drive away from agricultural production and exports, and towards specialisation in manufacturing and focus on trade generally.
Ricardo's essay came just after the two rent pamphlets by Robert Malthus (Inquiry into rent and Grounds of an opinion on restricting the importation of foreign corn, themselves published after the other pamphlet by Malthus on the subject, Observations on the Corn Laws, of 1814), Sir Edward West's Application of capital to land, and Robert Torrens's External Corn Trade, just to mention the best known examples of the products of 1814-15.
Un valor agregado adicional de la obra es introducir los desarrollos recientes sobre la contribucion de Robert Torrens. Se trata de otro importante economista clasico antiguo, cuyos postulados han permitido reorientar la teoria clasica de los precios relativos hacia un campo teorico casi totalmente inexplorado: la determinacion de los precios relativos en el desequilibrio.
(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.
(1) The defining feature of the Torrens system of registration, as compared to previous models of land registration practised by common law systems, is that it 'is not a system of registration of title but a system of title by registration.' (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.' (4)
Robert Torrens actually beat Ricardo into print by two years.
- Robert Torrens, 8 Stamperland Gardens, Glasgow G76 8HG.
Priority for identifying the relative strength of each country's demand for the other's product as the determinant of the terms of trade goes to James Pennington, Robert Torrens, and, above all, John Stuart Mill.
This changed in the first half of the twentieth century when multiple economists highlighted the role of Robert Torrens. Some historians have even claimed James Mill might be the author of the principle.
El articulo esta organizado como sigue: La primera seccion presenta la teoria de Robert Torrens. La segunda, es consagrada a la exposicion del modelo de estos autores segun diferentes hipotesis sobre la acumulacion y el consumo del excedente social.