David Ricardo

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Definition

David Ricardo (18th April, 1772-11th September, 1823), a political economist, is often credited with systematizing economics, and was one of the most influential of the classical economists, along with Thomas Malthus and Adam Smith. (Wikipedia contributors, ""David Ricardo,"" Wikipedia, The Free Encyclopedia, http://en.wikipedia.org/w/index.php?title=David_Ricardo&oldid=120057834 (accessed April 12, 2007).

David Ricardo was one the most important figures in the development of economic theory. He articulated and rigorously formulated the 'classical' system of political economy. The legacy of Ricardo dominated economic thinking throughout the 19th Century. His 'Law of Rent' is still recognized today as it relates to effective and advantageous use of resources.