Celebrating humanity's flourishing through the spread of capitalism and the rule of law
20 Apr 2017 Leave a comment
in economics
by Shruti Rajagopalan
Today is the 200th anniversary of David Ricardo’s On the Principles of Political Economy and Taxation, published on April 19, 1817. This remarkable, and rather unintuitive idea, is an essential component of every economist’s arsenal. When challenged by the mathematician Stan Ulam to name one proposition in the social sciences that was both true and non-trivial, Paul Samuelson said it was the theory of comparative advantage.
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Celebrating humanity's flourishing through the spread of capitalism and the rule of law
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