BOOK · [4926]
On the Principles of Political Economy and Taxation
Economics
Ricardo's 1817 treatise proves the principle of comparative advantage: even when one party is better at everything, both gain from specialization and free trade. Gurley draws on it to explain why marketplaces that match supply and demand across borders create prosperity.
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“In 1817, David Ricardo published On the Principles of Political Economy and Taxation.”
Cited in his 'Above the Crowd' essay 'Money Out of Nowhere: How Internet Marketplaces Unlock Economic Wealth,' February 27, 2019.
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