"Jacob Viner used to assign exam questions that showed how Ricardo’s Chapter 2 recognized (in modern parlance): P_2 / P_1 = \frac{\text{marginal cost in labour}_1}{\text{marginal cost in labour}_2} = \frac {1/\left[{\partial {Q}_/\partial{L}_}\right]}{1/\left[{\partial {Q}_/\partial {L}_}\right]} But, Viner insisted, this was compatible with rent’s being 99 per cent of national income and labour’s importance being derisory. Would that more historians of economic analysis had taken Viner’s EC 301 or brooded more on Ricardo’s text."
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Paul A. Samuelson, "The Overdue Recovery of Adam Smith's Reputation as an Economic Theorist", in M. Rey (ed.,), Adam Smith's Legacy (1992)
https://en.wikiquote.org/wiki/Jacob_Viner
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Jacob Viner
Jacob Viner (May 3, 1892 – September 12, 1970) was a Canadian economist and is considered with Frank Knight and Henry Simons to be one of the "inspiring" mentors of the early Chicago School of Economics in the 1930s: he was one of the leading figures of the Chicago faculty.
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