SCHOOLS OF THOUGHT
David Ricardo
- I was born in London, England, in 1772 and went to work for my father at the London Stock Exchange when I was 14 years old.
- My most important book, Principles of Political Economy and Taxation, was published in 1817.
- I argued that relative prices of production influenced trade between countries.
- I imagined that countries should seek to maximize their trade by producing goods for which they have a comparative advantage or lowest opportunity costs.