Ricardo, David Ricardo(noun)
English economist who argued that the laws of supply and demand should operate in a free market (1772-1823)
David Ricardo was a British political economist and stock trader. He was often credited with systematizing economics, and was one of the most influential of the classical economists, along with Thomas Malthus, Adam Smith, and John Stuart Mill. He was also a member of Parliament, businessman, financier and speculator, who amassed a considerable personal fortune. Perhaps his most important contribution was the theory of comparative advantage, a fundamental argument in favour of free trade among countries and of specialisation among individuals. Ricardo argued that there is mutual benefit from trade even if one party is more productive in every possible area than its trading counterpart, as long as each concentrates on the activities where it has a relative productivity advantage.
The numerical value of david ricardo in Chaldean Numerology is: 9
The numerical value of david ricardo in Pythagorean Numerology is: 9
Images & Illustrations of david ricardo
Find a translation for the david ricardo definition in other languages:
Select another language:
Discuss these david ricardo definitions with the community:
Word of the Day
Would you like us to send you a FREE new word definition delivered to your inbox daily?
Use the citation below to add this definition to your bibliography:
"david ricardo." Definitions.net. STANDS4 LLC, 2017. Web. 26 May 2017. <http://www.definitions.net/definition/david ricardo>.