David Ricardo

Created: 2022-12-27
Status: #soil #people
Last Edited: 2022-12-27
Topic: economics

Who Was David Ricardo?

David Ricardo (1772-1823) was an English economist and political philosopher.

He is considered one of the founders of classical economics and is known for his theories on rent, wages, money, international trade, and taxation.

Ricardo is also credited with developing the idea of comparative advantage, which states that countries should specialize in producing goods and services at which they have a comparative advantage over other countries. This principle forms the basis for modern international trade policy. #flashcards/economics #anki