He claimed that less fertile land will try to be cultivated because more fertile land will cost more in rent that eats away at profits. Termed his differential theory of rent, that came in his "Essay on Profit." He also saw elevated rent as a result of a series of laws he strongly lobbied against while in Parliament, a post he took after making money in the stock market. Besides those attacks on the Corn Laws, his other lasting contributions to economics come mostly in his most famous tract: Principles of Political Economy and Taxation. For 10 points, identify this British economist, the formu
He claimed that less fertile land will try to be cultivated because more fertile land will cost more in rent that eats away at profits. Termed his differential theory of rent, that came in his "Essay on Profit." He also saw elevated rent as a result of a series of laws he strongly lobbied against while in Parliament, a post he took after making money in the stock market. Besides those attacks on the Corn Laws, his other lasting contributions to economics come mostly in his most famous tract: Principles of Political Economy and Taxation. For 10 points, identify this British economist, the formulator of the Iron Law of Wages and the notion of Comparative Advantage.
He claimed that less fertile land will try to be cultivated because more fertile land will cost more in rent that eats away at profits.
David {Ricardo}