Written in 1817, this famous treatise lays the groundwork for the principles of the market economy. It established the guiding ideas behind the economic concepts of diminishing returns and economic rent. As a leading master of economic principles of his time, Ricardo developed the theories now identified as distribution theory and international trade theory, or comparative advantage.
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David Ricardo became a stockbroker at the age of 21 and slowly became a recognized economic scholar in England. Though he retired at 42, he spent the following years of his life concentrating on his writing and research.
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Most Helpful Customer Reviews
35 of 41 people found the following review helpful:
5.0 out of 5 stars
Raw Intelligence,
By Skip Church "SkipChurch" (Lawrenceville, NJ USA) - See all my reviews
This review is from: Principles of Political Economy and Taxation (Great Minds) (Paperback)
Some authors you read, and perhaps think, "I wish I'd written that!" Ricardo, like Adam Smith and John Locke, are in another league altogether. The originality of mind is stunning. Smith, Mill, Malthus and J.B. Say are all more readable, which I fear sounds like a very poor recommendation for Ricardo! Still, I was so bowled over by the originality of his theoretical line, that I forgave much slow slogging through a difficult text. His theory of rent is I think quite misguided, but is so powerfully presented that I was hard put to think how I might argue against it were Ricardo to appear before me in person. I took this book about ten pages at a time, and found it well worth the trouble.
22 of 25 people found the following review helpful:
4.0 out of 5 stars
A worthy read into the origins of the political economy,
By A Customer
This review is from: Principles of Political Economy and Taxation (Great Minds) (Paperback)
The ideas put forward by Ricardo in this book challenges some of the ideas presented by Adam Smith in the Wealth of Nations, particularly in the principles of economic rent. Ricardo also revealed interesting insights on the subject of value in chapter 1.To understand the text fully,it would be advisable to have read Adam Smith's Wealth of Nations, another book in the Great Minds Series, which I had also painfully digested. Like other books in the Great Mind's series, have a good cup of coffee ready. It is a very challenging and difficult read. Nevertheless, it is a worthwhile read for those serious in understanding the foundations of the present economic systems.
13 of 15 people found the following review helpful:
5.0 out of 5 stars
A must for the student of Social Sciences,
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This review is from: Principles of Political Economy and Taxation (Great Minds) (Paperback)
Along with Adam Smith, the Englishman David Ricardo is one of the fathers of the so-called Classics school of economic thought, and the Principles is his major opus, one he was very much reluctant to write, but only did so at the urgings of James Mill and his son John. Written in the first half of the 19th victorian century, he was nonetheless, a very freed mind, who did not accept or indulge in the extravagancies of the beginning of the industrialization proccess in England. To David Ricardo, Karl Marx owes a good share of his theory of labour, something essential in the labour movements of then. The concepts adapted and created by David Ricardo is transported to the text in a dry and concise style, not too much worried in polemics, but only interested in address the topics he raises in a very precise way. IF you are a student of Social Sciences, this book is a must.
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100
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- Theories of Value and Distribution since Adam Smith: Ideology and Economic Theory by Maurice Dobb in Front Matter, page 67, and page 81
- Western Humanities, Vol. 2: The Renaissance to the Present by Roy Matthews on page 171, page 196, and page 197
- Interpreting Ricardo by Terry Peach on page 1, Back Matter (1), and Back Matter (2)
- Class Politics in the Information Age by Donald C. Hodges in Back Matter (1), Back Matter (2), and Back Matter (3)
- The Practical Imagination: The German Sciences of State in the Nineteenth Century by David F. Lindenfeld on page 87, and Back Matter
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