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Biography of David Ricardo
Name: David Ricardo
Birth Date: April 19, 1772
Death Date: September 11, 1823
Place of Birth: London, England
Nationality: English
Gender: Male
Occupations: economist
David Ricardo
The English economist David Ricardo (1772-1823) was a founder of political economy. His economics armed reformers attacking the agricultural aristocracy's political, social, and economic privileges.David Ricardo was born in London on April 19, 1772, the son of a Jewish merchant-banker émigré from Holland. Ricardo joined his father as a stockbroker at the age of 14. When he married a Quaker, his orthodox father cut him off. Ricardo became a Unitarian, and at 22, with a capital of £800 and support from the financial community, he became an independent stockbroker. At 42 he retired with a fortune of about £1 million and established himself as a landed proprietor.Ricardo was an independent member of Parliament for the pocket borough of Portarlington from 1819 until his death. He supported a tax on capital to pay off the national debt; currency reform; abolition of the Corn Laws protecting British wheat; parliamentary, poor-law, legal, and military reform; a secret ballot; …showed first 150 words…
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…showed last 150 words…or fall in prices depends inversely upon the amount of money in circulation.Ricardo's other important writings were The High Price of Bullion (1810); "An Essay on the Influence of a Low Price on Corn on the Profits of Stock" (1815); "Funding System" (1820), published posthumously in the Encyclopaedia Britannica: Supplement (1824); and the "Plan for the Establishment of a National Bank" (1824), also published posthumously. He died at Gatcombe Park, Gloucestershire, on Sept. 11, 1823. Further Reading The definitive edition of Ricardo's Works and Correspondence is edited by P. Sraffa with the collaboration of M. H. Dobb (10 vols., 1951-1955). A helpful guide through the intricacies and inconsistencies of the Ricardian system is Oswald St. Clair, A Key to Ricardo (1957). Mark Blaug, Ricardian Economics: A Historical Study (1958), deals with Ricardo within the general context of his time. A chapter on Ricardo in Robert Lekachman, A History of Economic Ideas (1959), provides a lucid, less technical discussion of Ricardo's ideas.
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