David Ricardo: Summarized Classics: SUMMARIZED CLASSICS

By MAURICIO ENRIQUE FAU

The greatest thinkers of humanity at your fingertips, in minutes! 
If you thought you would never be able to understand the essential classic authors, you were wrong! 
With our "Summarized Classics" collection, you will understand the main ideas of the most important thinkers in a very short time and with little effort.

The present volume covers the central axes of this discipline.
Among them, the reader will find an analysis of the following: Principles of political economy and taxation (1817). Plus a helpful glossary.

• Language: English
• Publisher: BOOKS AND SUMMARIES BY MAURICIO FAU
• Release date: Sep 29, 2021
• ISBN: 9798201889722

MAURICIO ENRIQUE FAU

Mauricio Enrique Fau nació en Buenos Aires en 1965. Se recibió de Licenciado en Ciencia Política en la Universidad de Buenos Aires. Cursó también Derecho en la UBA y Periodismo en la Universidad de Morón. Realizó estudios en FLACSO Argentina. Docente de la UBA y AUTOR DE MÁS DE 3.000 RESÚMENES de Psicología, Sociología, Ciencia Política, Antropología, Derecho, Historia, Epistemología, Lógica, Filosofía, Economía, Semiología, Educación y demás disciplinas de las Ciencias Sociales. Desde 2005 dirige La Bisagra Editorial, especializada en técnicas de estudio y materiales que facilitan la transición desde la escuela secundaria a la universidad. Por intermedio de La Bisagra publicó 38 libros. Participa en diversas ferias del libro, entre ellas la Feria Internacional del Libro de Buenos Aires y la FIL Guadalajara.

Book preview

David Ricardo: Summarized Classics

SUMMARIZED CLASSICS

MAURICIO ENRIQUE FAU

Published by BOOKS AND SUMMARIES BY MAURICIO FAU, 2021.

DAVID RICARDO: SUMMARIZED CLASSICS

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MAURICIO FAU

Copyright © 2021 Mauricio Enrique Fau

All rights reserved.

ISBN: 9789871719099

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DEDICATION

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To my children Elías, Selva, Greta, Ciro and Yaco.

To my life's daughter Emma.

To my wife Cecilia.

Table of Contents

Title Page

Copyright Page

David Ricardo: Summarized Classics

WHO IS RICARDO

HISTORICAL CONTEXT OF RICARD'SWORK

Emergence of political economy

Market and state

DAVID RICARDO: BASIC PRINCIPLES

COMMON ELEMENTS OF CLASSICAL POLITICAL ECONOMY THEORISTS:

PRINCIPLES OF POLITICAL ECONOMY AND TAXATION (1817) | CHAPTER 1 | Section 1

Section 2

Section 3

Section 4

Section 5

Section 6  On an unchanging measure of value

CHAPTER 2

CHAPTER 4

CHAPTER 7

CHAPTER 30  INFLUENCE OF SUPPLY AND DEMAND ON PRICES

GLOSSARY

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Further Reading: Adam Smith: Summarized Classics

Also By MAURICIO ENRIQUE FAU

About the Author

About the Publisher

WHO IS RICARDO

HISTORICAL CONTEXT OF RICARD'S WORK

PRINCIPLES OF POLITICAL ECONOMY AND TAXATION (1817)

CHAPTER 1  ON VALUE

CHAPTER 2  INCOME TAX

CHAPTER 4  ON THE NATURAL PRICE AND THE MARKET PRICE

CHAPTER 7  ON FOREIGN TRADE

CHAPTER 30  THE INFLUENCE OF SUPPLY AND DEMAND ON PRICES

GLOSSARY

WHO IS RICARDO

Ricardo, David (1772 -1823): English economist, key figure of classical economics and political economy. One of Ricardo's fundamental ideas is the concept that the relative value of goods depends on the amount of labor (present and past) they contain -objective theory of value-. Although the thought of A. Smith is decisive in his analysis, unlike him, Ricardo moved the calculation of the value of a commodity from the sphere of distribution and the market to the sphere of production (man-hour), at least in some of his writings (in others his position resembles that of Smith, stating that the study of the laws of distribution of what man produces is the objective of political economy).), where he stated that an increase in wages reduces profits, breaking with Smith's harmonic vision and visualizing a conflict in the distribution of income (in this difference between the two fathers of classical economics, the French Revolution, which followed Smith and which Ricardo lived through, is fundamental). The context in which Ricardo writes is that of the beginning of the transition from theFirst Industrial Revolution to theSecond Industrial Revolution, when British expansion on a world scale put this country at the head of the powers. For Ricardo, production is remunerated in the form of wages for workers, profits for capitalists and land rent for landowners. Rent, precisely, is a key concept in his theory: it arises from the existence in England of limited fertile soils of varying quality, which - with the increase in population - forced entrepreneurs to rent increasingly less fertile land to landowners, paying higher and higher rents and thus slowing capitalist development by raising the cost of food and wages and thus reducing profits and investment (his theory became a tool against the grain laws). As a way out of this and to lower the amount of rents, Ricardo proposed -in defense of the industrialists and in opposition to the landowners whom he considered parasites- the opening to world trade: this is the moment of English expansion throughout the world, demanding raw materials and food and placing manufactures. It is in this context that Ricardo proposed his theory of comparative advantages. Three theories will emerge as responses to Ricardo: a) from a critical liberal stance -which considered Ricardo's views on social conflict dangerous- the neoclassicals will appear, b) from the interest of other countries to avoid English hegemony, Friedrich List's protectionist nationalism will emerge, and c) from the denunciation of the exploitation of the working class, Karl Marx's socialist theory will emerge. Among his main works we find a: Principles of Political Economy and Taxation (1817).

HISTORICAL CONTEXT OF RICARD'SWORK

We study here the historical moment in which political economy emerges as a science, the moment in which the discourse of economics becomes the problem and the object of a particular discipline.

Although economic problems have been present in all existing societies, it was only after a certain historical moment that a coherent response was given to them; political economy became a discipline with a particular discourse, capable of explaining the totality of the economic movement. That moment began in the mid-sixteenth century with the mercantilists.

Emergence of political economy

The historical moment when political economy emerged as a science in Western Europe is associated with the maritime expansion of the European kingdoms. The most important event in this process is the discovery of America.

This moment marked the END OF a historical period: FEUDALISM AND THE RISE OF a new one: CAPITALISM.

With the conquest and colonization of America, trade developed, new products appeared, indigenous labor began to be used and large