David Ricardo - Economist

David Ricardo was a prominent 19th-century British economist known for his theories on international trade and economics. He introduced the concept of comparative advantage, which explains how countries can benefit from trading by specializing in the production of goods where they have a relative efficiency. This idea supports the notion that trade can enhance overall wealth and efficiency, even if one party is less efficient in producing everything. Ricardo also contributed to labor theory of value, which relates the value of goods to the labor required to produce them. His work laid the groundwork for classical economics.