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David Ricardo

David Ricardo (1772-1823), a British economist, was one of the most influential of the classical economists. He was also a successful businessman, financier and speculator, and amassed a considerable fortune.

Ideas associated with David Ricardo include:

  • The theory of comparative advantage, which showed that nations could benefit from free trade, even if a nation was less efficient at producing all kinds of goods than its trading partners.

  • Ricardian equivalence, an argument suggesting that in some circumstances the choice of a government to pay for spending using either taxes or deficit spending might have no effect on the economy.

  • An analysis of the nature of land rent.

Links:

  • [1] (http://www.econlib.org/library/Ricardo/ricP)Complete text of Ricardo's On the Principles of Political Economy and Taxation.



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