David Ricardo Essay Example | Topics and Well Written Essays - 500 words

David Ricardo - Essay Example Ricardo contributed many important theories in the field of economics. Almost two hundred years back he presented the idea of comparative advantage (Salvatore, 1995, p.2). This contribution gained popularity after his death and now is one of the most popular concepts amongst developed world to grow their economies. Unfortunately, these implementations are resulting in many negative outcomes for poor nations or poor all around the globe. How the ideas of David Ricardo has affected our nations. The classic defense to free trade was already established by Ricardo; now free trade is the main debate amongst all developing nations, especially poor countries, which suffer the most. Almost 23 years after his death, Ricardo’s idea of free trade was picked as a public policy by Britain (Formaini 14). Free trade and comparative advantage no doubt was a great work by Ricardo; however, many poor countries suffered due to his theory. Rising prices of health and other commodities are the gro wing concern of all nations, but the idea of free trade and other trade agreements are positive for developed countries and multinational companies. For example, If U.S.