David Ricardo (1772-1823)Classical

David Ricardo (1772-1823)
Classical Champion of Free Trade
David Ricardo is one of history's most influential economists.
Born in England, Ricardo made a fortune on the London Stock Exchange.
This wealth gave him the time to write and to serve in Parliament's House of
Commons. His most famous work, Principles of Political Economy and Taxation
(1817), marked him as the greatest spokesman for classical economics since Adam
Smith.
Ricardo is especially famous in international economics for demonstrating the
advantages of free trade. Free trade is a policy in which tariffs and other barriers to
trade between nations are removed. To prove his point, Ricardo developed a
concept we now call the principle of comparative advantage. Comparative advantage
enabled him to demonstrate that one nation might profitably import goods
from another even though the importing country could produce that item for less
than the exporter.
Ricardo's explanation of comparative advantage went as follows:
Portugal and England, both of whom produce wine and cloth, are considering
the advantages of exchanging those products with one another.
Let's assume that:
• x barrels of wine are equal to (and therefore trade evenly for) у yards of
cloth.
• In Portugal 80 workers can produce x barrels of wine in a year. It takes 120
English workers to produce that many barrels.
• 90 Portuguese workers can produce у yards of cloth in a year. It takes 100
English workers to produce у yards of cloth.
We can see, Ricardo continued, that even though Portugal can produce both
wine and cloth more efficiently than England, it pays them to specialize in the
production of wine and import English cloth. This is so because by trading with
England, Portugal can obtain as much cloth for 80 worker-years as it would take 90
worker-years to produce themselves.
England will also benefit. By specializing in cloth, it will be able to obtain
wine in exchange for 100 worker-years of labor rather than 120.
As a member of Parliament, Ricardo pressed the government to abandon its
traditional policy of protection. Though he did not live to achieve that goal, his
efforts bore fruit in the 1840s when England became the first industrial power to
adopt a policy of free trade. There followed 70 years of economic growth during
which the nation became the world's wealthiest industrial power.

Результаты (русский) 1:

Рикардо, Давид (1772-1823)Классический чемпион свободной торговлиДэвид Рикардо является одним из самых влиятельных экономистов в истории.Родился в Англии, Рикардо сделал состояние на Лондонской фондовой бирже.Это богатство дало ему время, чтобы написать и в доме парламентаОбщие. Его самые известные работы, принципы политической экономии и налогообложения(1817), ознаменовало его как величайший представитель классической экономики с АдамСмит.Рикардо особенно известен в международной экономике для демонстрациипреимущества свободной торговли. Свободная торговля является политика, в которой тарифы и другие барьеры дляторговля между странами будут удалены. Чтобы доказать свою точку зрения, разработал Рикардоконцепция мы теперь называем принцип сравнительных преимуществ. Сравнительные преимуществапозволило ему показать, что одна нация может выгодно ввозить товарыиз другого даже если страны-импортера может производить этот элемент для менеечем экспортер.Рикардо объяснение сравнительных преимуществ пошли следующим образом:Португалия и Англия, оба из которых производят вина и ткани, рассматриваютпреимущества обмена этих продуктов друг с другом.Предположим, что:• x бочки вина равны (и поэтому торговля равномерно) у ярдовткань.• В Португалии 80 рабочих могут производить x бочки вина в год. Это занимает 120Английские работников для производства, что многие бочки.• 90 португальских работников могут производить у ярдов ткани в год. Он принимает 100English workers to produce у yards of cloth.We can see, Ricardo continued, that even though Portugal can produce bothwine and cloth more efficiently than England, it pays them to specialize in theproduction of wine and import English cloth. This is so because by trading withEngland, Portugal can obtain as much cloth for 80 worker-years as it would take 90worker-years to produce themselves.England will also benefit. By specializing in cloth, it will be able to obtainwine in exchange for 100 worker-years of labor rather than 120.As a member of Parliament, Ricardo pressed the government to abandon itstraditional policy of protection. Though he did not live to achieve that goal, hisefforts bore fruit in the 1840s when England became the first industrial power toadopt a policy of free trade. There followed 70 years of economic growth duringwhich the nation became the world's wealthiest industrial power.