After that he spends his last fourteen years as a professional economist His

After that he spends his last fourteen years as a

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Ricardo started his economic journey at the age of thirty seven, writing his first economic article. After that he spends his last fourteen years as a professional economist. His first published work was The High Price of Bullion. In 1809 he issued that the England's inflation was the result of the Bank of England's propensity to issue excess banknotes which shows that the Ricardo was the believer in a theory which is known today as Monetarism. Ricardo articulated the laws of diminishing marginal returns which is one of the most famous laws in economics. Ricardo also opposed the protectionist corn laws, which restricted the imports of wheat he also formulated the idea of comparative advantage which is the main basis for most of the economist's belief in free trade even today. The idea of specializing in a product ad trading it with the product from another
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country came from Ricardo. David Ricardo died at the age of 51, despite his relatively short career and he got interested in economics pretty late, Ricardo achieved a leading position among the economists of that time. Even though he died in 1823, still after more than 150 years we still remember him because of his contribution on the field of economics. The theory on wages and profit, labor theory of value, theory of comparative advantage and the theory of rents are the things which made him who he is today. He is also known for his contribution on the discovery of the law of diminishing marginal returns. Libertarian blogs: Being Libertarian doesn't involve any kind of substantive moral commitment. It rather is a political doctrine; it’s a doctrine about nature of human beings, nature of human society.
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