The Corn Model, Gluts and Surplus Value.

The controversy over Ricardo's corn model has focused on the interpretation of his early writings. Here, Ricardo's later use of a corn model example in his dispute with Malthus over gluts is discussed. Malthus's own use of a corn model table in attempting to justify his use of a labour commanded measure of value is analysed; it is shown that he calculates what Marx was to describe as surplus value from the physical conditions of production and the real wage