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'''David Ricardo''' (1772—1823) was a leading British economist who developed much of [[classical economics]].   

'''David Ricardo''' (1772—1823) was a leading British [[economist]] who developed much of [[classical economics]].   

Ricardo is most famous for developing the theory of [[comparative advantage]].  He explained that it was advantageous for England to produce cloth and [[Portugal]] to produce wine even though Portugal might have produced both wine and cloth at a lower cost than England did, as long as there was free trade between the two countries.  

Ricardo is most famous for developing the theory of [[comparative advantage]].  He explained that it was advantageous for England to produce cloth and [[Portugal]] to produce wine even though Portugal might have produced both wine and cloth at a lower cost than England did, as long as there was free trade between the two countries.