On the Principles of Economy and Taxation
The book has an active table of contents for easy access to each chapter.
Ricardo’s most important legacy is his theory of comparative advantage. He told the world that a nation should concentrate solely on those industries in which it is most internationally competitive and trades with other countries to obtain products which are not produced nationally.
Ricardo’s theory of comparative advantage has been remained the corner stone of the arguments in favor of international free trade.
Ricardo concluded in the book On the Principles of Political Economy and Taxation that land rent grows as population increases. Using the book, he wrote enough and satisfactory information on the topics of rent, profit, and wages and explained the theory of comparative advantage in the details.
On the Principles of Political Economy and Taxation secured Ricardo’s position among the great classical economists with Adam Smith, Thomas Robert Malthus, John Stuart Mill, and Karl Marx. David Ricardo is known as one of the founders of economics today.
Ricardo’s work also influenced Henry George, one of the great American economists. Henry George pioneered property tax concept through his book Progress and Poverty and influenced millions of American people.
This is a must-read book for people who are also interested in the deepest thoughts and views about the core economic subjects such as comparative advantage, rent, profit, and wages by David Ricardo, one of the greatest thinkers on the planet.
An Essay on the Influence of a Low Price of Corn on the Profits of Stock
The book has an active table of contents for easy access to each chapter.
In addition to the theory of comparative advantage, Ricardo’s most important legacy is on the subjects of rent, profit, and wages. He is usually credited to lay out the foundation for the concept of Iron Law of Wages that wages naturally tend to a subsistence level. An Essay on Profits is one of the most important articles by David Ricardo to explain the relationships among profits, wages, and prices of foods. He argued in Essay on Profits, “Profits depend on high or low wages, wages on the price of necessaries, and the price of necessaries chiefly on the price of food.”
Ricardo’s work also influenced Henry George, one of the great American economists. Henry George pioneered property tax concept through his book Progress and Poverty and influenced the profits of millions of American people.
David Ricardo was also one of those rare people who achieved both tremendous investing success and lasting fame. When he died, his estate was worth more than $100 million in today’s dollars. The path of value theory can be traced back to David Ricardo. Ricardo rooted the path continued by Benjamin Graham, Philip Arthur Fisher, and Warren Buffet.
This is a must-read book for people who are also interested in the deepest thoughts and views about the core economic subjects such as value, profit, wages, and prices by David Ricardo, one of the greatest thinkers on the planet.
Last updated: 07/08/2020
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Last updated: 07/08/2020
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