Political Economy Club
The Political Economy Club was founded by James Mill and a circle of friends in 1821 in London, for the purpose of coming to an agreement on the fundamental principles of political economy.[1]
Initially the Political Economy Club's discussions were illuminated by David Ricardo, James Mill, Thomas Malthus, and Robert Torrens, who soon found substantial difficulties in formulating their fundamental propositions. Ricardo felt that none of their views were safe from criticism; reflecting on their theoretical discussions barely a month before his death in 1823, Ricardo reached his opinion about the "non-existence of any measure of absolute value."[2]