David Ricardo

David Ricardo was a 19th-century economist known for his contributions to the theory of comparative advantage, which explains how countries can benefit from trade by specializing in producing goods for which they have a lower opportunity cost. He believed that free markets naturally lead to efficient resource allocation and economic growth. Ricardo's work also addressed issues like rent, wages, and profit distribution, highlighting the dynamics of capitalism. His ideas laid foundational principles for classical economics, influencing later economists and shaping our understanding of international trade and economic systems.