David Ricardo (April 19,1772- September 11, 1823), a British economist, was one of the most influential of the classical economistss. 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.
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