Active in British politics, he took the Bullionist position and opposed the Corn Laws.
Piero Sfraffa argued in favor of this man's theories. He rejected his own theory that deficit-based spending cannot increase demand because consumers can predict a future tax increase. In addition to that namesake "equivalence," he is known for a law stating that the wage of workers stabilizes at the sustenance level. Active in British politics, he took the Bullionist position and opposed the Corn Laws. For 10 points, who is this classical economist famous for his Iron Law of Wages and Principles of Political Economy and Taxation which introduced comparative advantage?
Piero Sfraffa argued in favor of this man's theories. He rejected his own theory that deficit-based spending cannot increase demand because consumers can predict a future tax increase.
David {Ricardo} [{DU/SJ}]