Principles of Political Economy and Taxation

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Focusing on monetary principles, David Ricardo's influential work, Principles of Political Economy and Taxation, laid the foundation for modern economics. His labor theory of value and insights into income distribution, wages, rent, and trade significantly shaped the economic theories of notable figures like Karl Marx and John Stuart Mill. First published in 1817, this seminal text reflects Ricardo's application of deductive logic to economic analysis, solidifying his role as the founder of the classical school of economics.