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Encyclopedia. / David Ricardo. David Ricardo. 1772-1823. D avid Ricardo was one of those rare people who achieved both tremendous success and lasting fame. After his family disinherited him for marrying outside his Jewish faith, Ricardo made a fortune as a stockbroker and loan broker.
David Ricardo developed the classical theory of comparative advantage in 1817 to explain why countries engage in international trade even when one country's workers are more efficient at producing every single good than workers in other countries.
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 most of the 19th Century.
Below is the article summary. For the full article, see David Ricardo . David Ricardo, (born, April 18/19, 1772, London, Eng.—died Sept. 11, 1823, Gatcombe Park, Gloucestershire), British economist. The son of a Dutch Jew, he followed his father into the London stock exchange, where he made a fortune before turning to the study of political ...
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Jun 11, 2018 · Social Sciences and the Law. Economics: Biographies. David Ricardo. Ricardo, David. views updated Jun 11 2018. Ricardo, David 1772-1823. CAREER AND WRITINGS. RICARDO ON VALUE, DISTRIBUTION, AND CAPITAL ACCUMULATION. BIBLIOGRAPHY. David Ricardo was born into a prolific Sephardic Jewish family in London on April 18, 1772.
Comparative advantage is an economic theory created by British economist David Ricardo in the 19th century. It argues that countries can benefit from trading with each other by focusing on making the things they are best at making, while buying the things they are not as good at making from other.
Jan 18, 2024 · An Accidental Economist with Deliberate Insights. Ricardo’s encounter with Adam Smith’s “The Wealth of Nations” was serendipitous but transformative. It spurred a passion for economic inquiry, leading him away from the trading floor and towards the theoretical underpinnings of the market.
