David Ricardo
Videos
David Ricardo was a British economist and politician. He is recognized as one of the most influential classical economists, alongside figures such as Thomas Malthus, Adam Smith and James Mill.
Portrait by Thomas Phillips, c. 1821
Works, 1852
Labor theory of value
Videos
The labor theory of value posits that the economic value of a good or service is determined by the socially necessary labor time required to produce it under prevailing conditions. The theory is usual
David Ricardo
…He was also an abolitionist and believed in the autonomy of a central bank as the issuer of money. Ricardo worked on fixing issues in Adam Smith's labour theory of value, stating that the value of a commodity depends on the labour necessary for its production. He contributed to the development of theories of rent, wages…
Adam Smith
Andrew Kliman, a proponent of the Temporal Single-System Interpretation (TSSI) of the LTV