David Ricardo

Born in London in 1772, David Ricardo first made his name in finance, building a successful career as a stockbroker before turning seriously to economic theory. He entered public life as well, serving in the British Parliament during the last years of his life.

Ricardo is best known for On the Principles of Political Economy and Taxation (1817), a work that had a lasting influence on classical economics. He explored how income is divided among landlords, workers, and capitalists, and he is especially remembered for developing the idea of comparative advantage, the argument that countries can benefit from trade even when one is more efficient at producing everything.

Although he died in 1823 at just 51, Ricardo remained one of the central figures in the early development of economics. His debates with other thinkers of his time, along with his clear, analytical style, helped define the subject for generations of readers and policymakers.