David ricardo biography pdf
David ricardo!
David ricardo biography pdf
Who Is David Ricardo and What Is He Famous For?
David Ricardo (1772–1823) was a classical economist best known for his theory on wages and profit, the labor theory of value, the theory of comparative advantage, and the theory of rents.
David Ricardo and several other economists also simultaneously and independently discovered the law of diminishing marginal returns. His most well-known work is Principles of Political Economy and Taxation (1817).
Key Takeaways
- David Ricardo was a classical economist who developed several key theories that remain influential in economics.
- Ricardo was a successful investor and member of Parliament who took up writing about economics after retiring young from his fortunes.
- Ricardo is best known for his theories of comparative advantage, economic rents, and the labor theory of value.
- Ricardo's widely acclaimed comparative advantage theory suggests that nations can gain an international trade advantage when they focus on producing goods th