Economist David Ricardo

David Ricardo was a 19th-century economist known for his work on international trade and economic theory. He introduced the concept of comparative advantage, explaining how countries benefit from specializing in producing goods where they have the least opportunity cost and trading with others. This idea helps to explain why free trade can be mutually beneficial. Ricardo also contributed to the understanding of labor value, rent, and the distribution of income among capital, land, and labor. His insights laid the foundation for modern economics and trade policy, emphasizing how markets and specialization promote efficiency and growth.