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Synopsis

The book has an active table of contents for easy access to each chapter.

David Ricardo made essential contributions to classical economics and has been called the most influential classical economist along with Adam Smith, Thomas Malthus, and John Stuart Mill. He contributed many aspects of economics as the follows:

1)            Labor theory of value.

2)            Exchange value

3)            Value in use

4)            Rent

5)            Accumulation of inequality

6)            Protectionism

7)            Comparative advantage

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.

 

 

 

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