id author title date pages extension mime words sentences flesch summary cache txt en-wikipedia-org-9479 John Ramsay McCulloch - Wikipedia .html text/html 1914 250 58 John Ramsay McCulloch (1 March 1789 – 11 November 1864) was a Scottish economist, author and editor, widely regarded as the leader of the Ricardian school of economists after the death of David Ricardo in 1823. McCulloch was a co-founder, and one of the first editors, of The Scotsman newspaper, and worked on the Edinburgh Review. McCulloch collected the early literature of political economy, and wrote on the scope and method of economics and the history of economic thought.[3][4] After his death his library was purchased by Lord Overstone and eventually presented to the University of Reading. McCulloch's works include a textbook, Principles of Political Economy (Edinburgh 1825). McCulloch used it to illustrate that "time cannot of itself produce effect; it merely affords space for really efficient causes to operate, and it is therefore clear it can have nothing to do with value." Reflecting on discussions in the Political Economy Club, Ricardo had privately expressed his famous opinion about the "non-existence of any measure of absolute value."[6] "On Ricardo's Principles of Political Economy and Taxation", 1818, Edinburgh Review ./cache/en-wikipedia-org-9479.html ./txt/en-wikipedia-org-9479.txt