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David Ricardo

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Economist

The Resume

    (April 18, 1772-September 11, 1823)
    Born in London, United Kingdom
    Member of Parliament for Portarlington (1819-23)
    Wrote 'On the Principles of Political Economy and Taxation' (1817)
    Developed the Theory of Comparative Advantage that a nation should specialize in the fields where it is most competitive internationally and obtain other products by trade
    Developed the Iron Law of Wages claiming that wages tend to naturally stabilize at a bare subsistence level

Why he might be annoying:

    He made his fortune on the stock market by using insider information about the outcome of the Battle of Waterloo.
    He got his Parliamentary seat by loaning £25,000 to Lord Portarlington, who then instructed his tenants (the only residents of the borough) to vote for Ricardo.
    The inscription on his gravestone erroneously claims he was born in Holland. (His parents had immigrated from there.)

Why he might not be annoying:

    After he eloped with a Quaker and converted from Judaism, his father disowned him and his mother never spoke to him again.
    He was an abolitionist who called the slave trade a stain on the British character.
    John Kenneth Galbraith wrote, 'It is David Ricardo's unique position in history that he was innovating force in both capitalist and socialist thought.'

Credit: C. Fishel


Featured in the following Annoying Collections:

Year In Review:

    In 2023, Out of 4 Votes: 50.0% Annoying
    In 2021, Out of 5 Votes: 60.0% Annoying
    In 2020, Out of 3 Votes: 66.67% Annoying
    In 2019, Out of 2 Votes: 0% Annoying
    In 2017, Out of 9 Votes: 55.56% Annoying
    In 2016, Out of 4 Votes: 100% Annoying
    In 2015, Out of 76 Votes: 53.95% Annoying