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David Ricardo | |
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| Born | 18 April 1772 London, England, Kingdom of Great Britain |
| Died | 11 September 1823 Gloucestershire, England, United Kingdom |
| School tradition | Classical political economy |
David Ricardo (18 April 1772 – 11 September 1823) was a British political economist who extended the labour theory of value to large-scale capitalist production. He proposed that higher wages for workers would mean lower profits for capitalists and vice versa. One error in his work was the metaphysical claim that classes have always existed, and he never tried to discover the historical origins of commodities and capital.[1]
See also[edit | edit source]
References[edit | edit source]
- ↑ Political Economy: 'Economic Doctrines of the Capitalist Epoch; Bourgeois Classical Political Economy' (1954). [MIA]