David Malhus's Theory Of David Ricardo And David Baldwin
709 Words3 Pages
“Population and poverty are the two major concerns in England back in 18th Century.
England believed their population was declining due to natural disaster and lack of resources. Thomas Malthus and David Ricardo were born in the same time frame when the England is in the midst of hardship.
The young Malthus thought the society of the population was caught in a hopeless trap.
At the same time, some people thought in totally different way included David Ricardo which was a successful stock trader. In his opinion, the society is like an escalator, some people at the upper classes effortlessly, some people’s hard works might not be paid off, hence, unable to improve their social status. This theory is different with Adam Smith where people…show more content… Ricardo saw the conflict of the society and only landlord will gain the benefits and their interests always against with the society.
Due to the different background and career between David Ricardo and Malthus, they were treated differently. Malthus thought the basic problem of the society is because there were so many people. Malthus was described as an old-thinker but his essay on population is a great contribution to economy. Meanwhile, Ricardo was regarded as a strong supporter of speech freedom and assembly but he strongly opposed Parliament
Corruption and Catholic Prosecution. People might not understand what Ricardo’s idea but they support him due to his popularity in economics and political area. Ricardo and
Malthus were good friends but this doesn’t stop them to search for the truth as they both, In 1817, David Ricardo has published Principles of Political Economy. The idea is to totally different with Adam Smith’s optimistic views toward capitalist. David Ricardo feel capitalist only accumulate. In Ricardo’s point of view, the world is mainly focus on the economic activities. One of the highlight in David Ricardo’s idea is the difference of profits earned by the landlord whom with different level of fertility of