D. リカードウ『公債制度論』の論理構造

「等価定理」の政治的意味

抄録

In this paper, I will consider the significance of the ‘equivalence theorem’ of Ricardo. The theorem was explained most clearly in his Funding System (1820), in which it plays an important role.
The ‘equivalence theorem’ appears as a theoretical foundation, and highlights Ricardo's conclusions about the funding system and the sinking fund. Demonstrating in advance that the theorem is correct in theory, Ricardo proceeded to emphasize that it is inaccurate in practical application. According to Ricardo, the causes of this inaccuracy were the ‘fiscal illusion’ of the people and the political corruption, which contributed to the diversion of the sinking fund to other purposes rather than toward redeeming public debt.
In my view, the latter cause is of note, particularly in light of the fact that Ricardo was an ardent supporter of parliamentary reform. If we take this ardor into account, it becomes clear that the ‘equivalence theorem’ is the theoretical basis from which to emphasize a defect in the British constitution and to imply the necessity of its reform. Therefore, the significance of the ‘equivalence theorem’ should be understood not only in a theoretical context but from a political point of view.