David Ricardo (18 April 1772 – 11 September 1823) was a British political economist, politician, and member of Parliament. He is recognized as one of the most influential classical economists , alongside figures such as Thomas Malthus , Adam Smith and James Mill .

Sep 1, 2023 · David Ricardo was a classical economist best known for his theory on wages and profit, labor theory of value, theory of comparative advantage, and others.

Mar 11, 2025 · David Ricardo, English economist who gave systematized, classical form to the rising science of economics in the 19th century. His laissez-faire doctrines were typified in his Iron Law of Wages, which stated that all attempts to improve the real income of workers were futile.

Ricardian economics are the economic theories of David Ricardo, an English political economist born in 1772 who made a fortune as a stockbroker and loan broker. [1][2] At the age of 27, he read An Inquiry into the Nature and Causes of Wealth of Nations by Adam Smith and was energised by the theories of economics.

In arguing for free trade, Ricardo formulated the idea of comparative costs, today called comparative advantage —a very subtle idea that is the main basis for most economists’ belief in free trade today. The idea is this: a country that trades for products it can get at lower cost from another country is better off than if it had made the ...

Apr 19, 2018 · Ricardo was an early proponent of a Land Value Tax, one of those rare ideas which finds favour with economists across the political spectrum. Himself a landlord, Ricardo’s “Law of Rent” explained how landowners are able to monopolise the gains from economic growth.

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 …

Mar 28, 2023 · The British Economist David Ricardo made significant contributions to Classical Economics in the late 18th century and early 19th century. His work related to economic theory is discussed, studied and debated even today.

Jan 18, 2024 · Ricardo’s work transcends the era of its inception, offering a timeless analysis of the benefits of trade, specialization, and market forces. His principles inform contemporary debates on globalization, trade policy, and economic development.

He wrote his first economics article at age thirty-seven and then spent only fourteen years—his last ones—as a professional economist. Ricardo first gained notice among economists over the "bullion controversy."