Ricardo’s birthday

One of the founding fathers of classical political economy, David Ricardo published a whole range of works on the economic processes of his time. Published in 1817, Principles of Political Economy and Taxation was his most influential work. Ricardo thought that the value of products was based on the amount of labour spent to produce them. This tenet was the key point of his distribution theory explaining how this value is distributed between different social classes. In 1821, David Ricardo founded the country’s first club of political economy.