I would emphasize once again that many of Ricardo's insights in capital theory and some even in monetary and value theory play an important role in Hayek's own analysis. Many have noted the Ricardian or classical roots of Austrian capital theory. What I have endeavored to juxtapose is Ricardian macro-formalism, or
Ricardian methodology, and consistent methodological individualism and subjectivism. The Cambridge rediscovery of Ricardo has focused precisely on what are to economists in the Austrian tradition the most objectionable features of Ricardianism (for example, analysis by social classes rather than individuals and manipulation of aggregate variables rather than attention to the relevant micro signals). Insufficient attention is thereby paid to the interesting (to Austrian economists) Ricardian insights on capital (for example, the importance of the period of production) and value theory (for example, see chapter 5 on the Ricardo effect).