David Ricardo 's Theory Of Comparative Advantage

1504 WordsMar 3, 20167 Pages
David Ricardo is a well-known economist who found it hard to make his big break in the field of economics. He created the “Theory of Comparative Advantage”, or free international trade. His ideas he had were hard for people to grasp, and understand at the time, and even today. Over his career, he encountered some struggles, but he kept doing what he thought was right, and fair, and in the end he was successful. David Ricardo was born in London in 1772. He grew up in a large family with more than 10 brothers and sisters. His parents were Jewish immigrants who settled in England. His dad made a successful career for himself, and for his family. He was a stockbroker. Ricardo was sort of drawn into the business, because his dad had the business. Ricardo was fourteen when he entered the market with his dad. When he married he went a different path than the one his family would of liked for him to have. He chooses to marry a Quaker. After the marriage tension arose, causing him to have to leave his family. Ricardo still had a lump some of money, so he used it to expand his education. He didn’t just spend time learning about the political economy. He took time to study other important subjects like math, reading, and science. During this time he became interested in Adam Smith’s “Wealth of Nations”, and this inspired him to write his own pamphlets named “The High Price of Bullion”, a “Proof of the Depreciation of Bank Notes”. Which became very popular in 1810. The benefit of

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