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David Ricardo (born April 18/19, 1772, London, England—died September 11, 1823, Gatcombe Park, Gloucestershire) English economist who gave systematized, classical form to the rising science of economics in the 19th century.
David Ricardo (18 April 1772 – 11 September 1823) was a British political economist, politician, and member of the Parliament of Great Britain and Ireland. He is recognized as one of the most influential classical economists, alongside figures such as Thomas Malthus, Adam Smith and James Mill.
David Ricardo was a classical economist who developed several key theories that remain influential in economics, such as the theory of comparative advantage, the labor theory of value, and the theory of rents. He also discovered the law of diminishing marginal returns and wrote about the influence of trade and politics on the economy. Learn more about his life, education, achievements, and published works.
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- Introduction to RicardoYouTube
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The brilliant British economist David Ricardo was one the most important figures in the development of economic theory. He articulated and rigorously formulated the " Classical" system of political economy. The legacy of Ricardo dominated economic thinking throughout the 19th Century.
David Ricardo developed the classical theory of comparative advantage in 1817 to explain why countries engage in international trade even when one country's workers are more efficient at producing every single good than workers in other countries.
David Ricardo, (born , April 18/19, 1772, London, Eng.—died Sept. 11, 1823, Gatcombe Park, Gloucestershire), British economist.
1772-1823. D avid Ricardo was one of those rare people who achieved both tremendous success and lasting fame. After his family disinherited him for marrying outside his Jewish faith, Ricardo made a fortune as a stockbroker and loan broker. When he died, his estate was worth more than $100 million in today’s dollars.
David Ricardo(April 18, 1772 – September 11, 1823), was a British economist, a successful businessman, financier, and speculator, and amassed a considerable fortune. He is credited with systematizing economics in the nineteenth century, and was one of the most influential of the classical economists.
This chapter introduces the life and the early work of David Ricardo, a key figure in the history of economic thought and the creator of the first system of political economy. It covers his personality, his times, his trade theory and his main opus On the Principles of Political Economy and Taxation.