David Ricardo (1772–1823) was a British political economist renowned for his influence on economic Theory, particularly in the realm of Free Trade and Comparative Advantage. His seminal Work, "Principles of Political Economy and Taxation," laid the foundation for much of modern Economics. Ricardo's theory of comparative advantage remains a fundamental concept in International trade theory. His contributions continue to Shape economic policy and academic discourse in economics.
Anecdotes
- Started his career as a stockbroker at just 14, quickly amassing significant Wealth through astute financial acumen.
- Had a public intellectual spat with Thomas Malthus, which fueled significant advancements in economic theory.
- Amassed a considerable Fortune in the Stock market by the Age of 25, allowing him to retire from active trading and focus on writing influential economic theories.
Magnitudes
- Understand deeply the Principle of comparative advantage.
- Cultivate critical thinking over blind conformity.
- Prioritize specialization to maximize your unique Value.
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