DAVID RICARDO – THE FATHER OF CLASSICAL ECONOMICS

• Main Author: Jemal Kharitonashvili
• Format: Article
• Language: English
• Published: Consilium LLC 2017-05-01
• Series: European Cooperation
• Subjects: theoretical legacy; prominent economists; protectionism; liberalism; cost/value; relative advantage
• Online Access: http://we.clmconsulting.pl/index.php/we/article/view/299

Reviewing the modern economy, it is necessary to analyze and take into consideration the views of the earlier thinkers, whose works and theories are used by a number of theorists of subsequent generations. Today, the wise thoughts of the earlier prominent economists, the classics are represented in a new force as a leading light. A famous English economist David Ricardo has a prominent place among the greatest economists of all times. Until recently we did not pay great attention to his ideas, but his name is emphasized in the history of economic thought. According to modern American economists C.R. McConnell and S.L. Brue, the five biggest economists of the world are Adam Smith, David Ricardo, John Stuart Mill, Karl Marx, John Mainard Keynes.