David Ricardo’s Principles of Political Economy

Lefteris Tsoulfidis ()

Chapter Chapter 4 in Competing Schools of Economic Thought, 2009, pp 57-84 from Springer

Abstract: Abstract David Ricardo (1772–1823) was trained, from the age of 14, by his father (a Jew stockbroker, who had migrated from Amsterdam to London) in the ‘secrets’ of stockbrokerage. Although Ricardo did not have a formal university education, he had a keen interest in mathematics, chemistry, mineralogy, geology and, late in his life, political economy on which he focused his attention when he decided to retire. Ricardo managed to earn a lot of money through his activities in the stock market and, as Heilbroner (1981) notes, became ‘the richest of all the economists’. His early publications included The High Price of Bullion (1810) and, about five years later, An Essay on the Influence of a Low Price of Corn on the Profits of Stock, which contained his, still, controversial corn model. In the same year, he set out to write a book on issues of political economy, and in 1816, he had completed a draft of the first seven theoretical chapters.

Keywords: Real Wage; Relative Price; Relative Prex; Labour Time; Subsistence Level (search for similar items in EconPapers)
Date: 2009
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DOI: 10.1007/978-3-540-92693-1_4

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