David Ricardo (1772-1823) discoveries were the principle of comparative advantage (that countries can benefit by specializing in goods they produce efficiently and trading internationally to buy others), and the law of diminishing returns (that continued increments of capital and labour applied to a given quantity of land will eventually show a declining rate of increase in output).
Why is David Ricardo famous?
David Ricardo was a English economist, author of Principles of Political Economy in 1817.
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