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  Like a sharp chisel, David Ricardo sculpted the 19th century into a new world.
One of 17 children, David Ricardo seeped from a line of Iberian Jews, who after a
stay in Holland, immigrated to England in 1772. Having started his career at the
London Stock Exchange, David Ricardo confirmed that the apple does not fall far
from the tree. Ricardo's father was a stockbroker, who aspired to see his son follow
in his footsteps. But did he?

What a disappointment David Ricardo must have been to his family when he, at
21, married a
Quaker. Though practically disowned by his family, Ricardo's
understanding of investments translated to quick riches when he began trading in
government securities for himself. When only in his early forties, David Ricardo
had amassed enough wealth to retire and run for a parliamentary seat.

As a politician, David Ricardo continued his preoccupation with financial matters.
Dilemmas like the repealing of the
Corn Laws, the ever mounting federal debt and
capital taxation plagued him. Then life webbed his skills when making sure that
David Ricardo reads the best book of his time,
The Wealth of Nations, authored by
Adam Smith.

After much encouragement, David Ricardo began inking his thoughts on the
major economic problems of his day, and he thus created the "
classical approach"
to the
theory of money. David Ricardo argued for Say's law, which states that
market equilibrium is constant, and that a surplus of goods and services is
impossible. But what David Ricardo is most famous for are his
Differential Theory
of Rent and the Law of Diminishing Marginal Returns. In his marvelous treatise,
Principles of Political Economy and Taxation (1817), Ricardo finally integrated a theory
of value into his T
heory of Distribution, which changed his earlier views.  

One of David Ricardo's most fascinating works is the "labor-embodied" theory of
value or LTV, in which Ricardo examines value, wages, labor, and income
distribution. David Ricardo's exploration was not relegated to domestic affairs
alone. He dabbled in international economics as the owner of the
Comparative
Advantage Theory. In this theory Ricardo contends that trade is beneficial even
when it produces a net-import, because it increases incomes in all trading countries.

Because of how well David Ricardo had organized classical economic thoughts,
subscribers to his philosophies belong to the "Ricardian School:" the essence of
classical economics, practiced by many economists, even today.

David Ricardo is also known for
Theory of Comparative Costs, The Iron Law of
Wages, The Ricardian Theory of Profits, International Trade Theory, Theory of
Value, and much more.
David Ricardo
The following are books written by David Ricardo or about him. You may purchase these
books, in which case know that they are available at
Amazon.com or Barnes & Noble.
They are also available for free at libraries, or for small fees at used book stores.
Misguided or not, the powerful and
original thoughts in this book will
make you rethink the world of
economics.
This book reveals the intimate side of
David Ricardo. Get to know the deep
thinker who agonized over major
problems and who weighed every
argument.
What makes Ricardo the founder of  
the classical school of economics?
How did he change and advance our
understanding of markets?
Henderson discusses Ricardo's Iberian
Jewish background, reinterprets his
theory of value, and notes the
importance of his status.
David Ricardo
(1772 - 1883)