What were David Ricardo's beliefs?

Answer 1

David Ricardo, a prominent 19th-century economist, is best known for his theories on comparative advantage and the labor theory of value. He believed that countries should specialize in producing goods in which they have a relative efficiency, leading to mutually beneficial trade. Ricardo also argued that rent is derived from the differential productivity of land, and he was concerned about the implications of economic growth on income distribution, particularly the tendency for profits to decline over time. His ideas laid the groundwork for classical economics and influenced modern economic thought.