Publisher description for The principles of political economy and taxation / David Ricardo ; introduction by F.W. Kolthammer.


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This landmark treatise of 1817 formulated the guiding principles behind the market economy. Author David Ricardo, with Adam Smith, founded the classical system of political economy, a school of thought that dominated economic policies throughout the 19th century and figured prominently in the theories of John Stuart Mill and Karl Marx. Its foundation of the tenets of diminishing returns and economic rent led to the doctrines known today as distribution theory and international trade theory. The Ricardian system continues to influence and inform modern economic thought, and The Principles of Political Economy and Taxation is essential reading for students of the social sciences.



Library of Congress subject headings for this publication:
Economics.
Taxation.
Classical school of economics.