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On the Principles of Political Economy and Taxation by David Ricardo, book cover
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On the Principles of Political Economy and Taxation

by David Ricardo

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Under 100
First published
1817
Pages
282
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About this book

David Ricardo set out to answer a question Adam Smith raised but never settled: how is the wealth a country produces divided among landlords, workers, and the owners of capital? His answer, published in 1817, turned economics into a system of deduction. Ricardo works out the labour theory of value, the law of diminishing returns on land, and the theory of rent that still carries his name. He also makes the case for comparative advantage, the argument that two countries both gain from trade even when one is better at producing everything, which remains the backbone of the free trade position. Austere, tightly reasoned, and formative for Mill, Marx, and the whole classical school.

About the author

David Ricardo - BDeBooks
David Ricardo

David Ricardo (1772-1823) was a London stockbroker who made a fortune on the exchange before turning to political economy in his late thirties. Largely self-taught, he entered Parliament in 1819 and became, after Adam Smith, the most influential of the British classical economists.

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Book facts

First published
1817
Reading time
About 9 hours
Pages
282
Language
English
Formats
PDF, EPUB, Read online