Many of the problems of globalization confronting us today—including finding the right balance between economic growth, technological advance, and international trade, and human welfare—also troubled earlier generations. David Ricardos
Principles of Political Economy and Taxation represents an important early attempt to illuminate the problem and to offer viable policy solutions.
The book, like modern ‘principles of economics’ textbooks, exposes readers to rigorous economic thinking and deductive reasoning, but does not contain advanced mathematics.
Principles heavily influenced socialist thinkers such as Karl Marx as well as classical economists like John Stuart Mill and John R. Mc Culloch. In the economics of international trade, the book continues to be a major influence.
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David Ricardo, born in 1772, is perhaps best described as Adam Smith with attitude. A member of the London Stock Exchange from 1793 to 1816, Ricardo made a living buying and selling public securities, and by the time he was twenty-six years old he was independently wealthy. After making a tidy sum, he largely retired from active business worth a princely sum that he invested in both financial assets and real estate.
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