18th/19th century British economist
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  • David Ricardo

    David Ricardo (18 April 1772 - 11 September 1823) was a British political economist, one of the most influential of the classical economists along with Thomas Malthus, Adam Smith and James Mill.


    Ricardo, David (1772-1823), by Mark Skousen, The Encyclopedia of Libertarianism, 15 Aug 2008
    Biographical essay
    "David Ricardo was a brilliant classical economist. His policies of free trade and hard money helped propel Britain into its role as 'workshop of the world' and as an industrial giant, yet his labor theory of value and antagonistic model of capitalism proved misguided and gave unexpected support to the Marxists and socialists. ... He argued that England's raging inflationary price spiral was caused by the Bank of England issuing excessive bank notes to pay for the war against France. ... He made profound contributions to economics, including the laws of comparative advantage, diminishing returns, and the quantity theory of money."
    Related Topic: Wages


    18 Apr 1772, in London


    11 Sep 1823, in Gatcombe Park, Gloucestershire, England


    David Ricardo (1772-1823)
    The Concise Encyclopedia of Economics
    "David Ricardo was one of those rare people who achieved tremendous success and lasting fame. After his family disinherited him for marrying outside his Jewish faith, Ricardo made a fortune as a stockbroker and a loan broker. When he died, his estate was worth over $100 million in today's dollars."


    Published Works of David Ricardo
    McMaster University, Archive for the History of Economic Thought


    Ricardo in Parliament, by Edwin Cannan, The Economic Journal , 1894
    "... he was elected on February 20, 1819 ... on the dissolution of Parliament at the death of George III he was re-elected ... and continued to represent it till his death ... As regards the miscellaneous questions of general politics which concern an economist no more than any other citizen, Ricardo invariably acted with the most liberal section of the House."


    An Essay on the Influence of a low Price of Corn on the Profits; shewing the Inexpediency of Restrictions on Importation: With Remarks on Mr Malthus' Two Last Publications, 1815
    "The principles which regulate rent are briefly stated ... The consideration of those principles, together with those which regulate the profit of stock, have convinced me of the policy of leaving the importation of corn unrestricted by law."
    Related Topic: Free Trade

    Books Authored

    On the Principles of Political Economy and Taxation, 1817
    Partial contents: On Value - On Rent - On the Rent of Mines - On Natural and Market Price - Of Wages - On Profits - On Foreign Trade - On Taxes - Taxes on Raw Produce - Taxes on Rent - Tithes - Land-Tax - Taxes on Gold - Taxes on Houses - Taxes on Profits
    Related Topics: Economics, Taxation

    The introductory paragraph uses material from a Wikipedia article, which is released under the Creative Commons Attribution-Share-Alike License 3.0.