ricardo, david

Cultural Dictionary

Ricardo, David definition


A British economist of the late eighteenth and early nineteenth centuries. Ricardo was essentially a classical economist in the tradition of Adam Smith, but he expanded Smith's vision to forecast an eventual end to economic growth owing to the difficulty of increasing food production to keep up with population growth.

Note: With Thomas Malthus, he is credited with propounding the pessimistic views that earned economics the label of the “dismal science.”
The American Heritage® New Dictionary of Cultural Literacy, Third Edition
Copyright © 2005 by Houghton Mifflin Company.
Published by Houghton Mifflin Company. All rights reserved.
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