On The Principles of Political Economy, and Taxation

Name: On The Principles of Political Economy, and Taxation
Author: David Ricardo

By David Ricardo

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Economics

About This Book

The text develops a systematic theory of political economy that explains how the produce of the land is apportioned among rent, profit, and wages and how exchangeable value arises from labour, scarcity, and market forces. It formulates a law of rent tied to differential soil fertility, analyzes the effects of capital accumulation on profits and wages, and applies these principles to foreign trade and comparative cost. The work also treats practical fiscal and institutional questions, including the incidence of taxes, tithes, land‑tax, bounties and prohibitions, monetary issues, the rent of mines, and the influence of demand and supply on prices.

About the Author

David Ricardo

David Ricardo (1772-1823) was a prominent British economist and a key figure in classical economics. He is best known for his influential work "On The Principles of Political Economy, and Taxation," where he developed theories on value, distribution, and international trade. Ricardo's ideas on comparative advantage laid the groundwork for modern trade theory. His correspondence with fellow economist Thomas Robert Malthus, compiled in "Letters of David Ricardo to Thomas Robert Malthus, 1810-1823," provides insight into the economic debates of his time. Ricardo's contributions significantly shaped economic thought and continue to be studied for their relevance to contemporary economic issues.