Feature Presentation

The Principles of Political Economy and Taxation

By:  David Ricardo

London: John Murray, 1821.  xii, 538 pages.  8vo.  Third Edition.  The last edition by Ricardo in his lifetime.  Includes the enigmatic Chapter 31 "On Machinery", which has never been fully reconciled with the balance of Ricardo's system.  Leather re-back with new spine laid on.  Original full leather diced boards.  Near Fine.

(Additional scans available on request.)
Our Inventory Item #IX-0003
Price:  $2500.00

David Ricardo (18 April 1772 11 September 1823) was an English political economist and stock trader. He was often credited with systematizing economics, and was one of the most influential of the classical economists, along with Thomas Malthus, Adam Smith, and John Stuart Mill.  He was also a member of Parliament, businessman, financier and speculator, who amassed a considerable personal fortune. Perhaps his most important contribution was the law of comparative advantage, a fundamental argument in favour of free trade among countries and of specialization among individuals. Ricardo argued that there is mutual benefit from trade (or exchange) even if one party (e.g. resource-rich country, highly skilled artisan) is more productive in every possible area than its trading counterpart (e.g. resource-poor country, unskilled labourer), as long as each concentrates on the activities where it has a relative productivity advantage.

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