This man rejected his own theory that deficit-based spending cannot increase demand because consumers can predict tax increase.
This man rejected his own theory that deficit-based spending cannot increase demand because consumers can predict tax increase. In addition to his namesake "equivalence," he is known for a law stating that the wage of workers stabilizes at the sustenance level. In addition to his Law of Rent, this economist also used the trade of English cloth for Portuguese wine to describe his most famous principle. For 10 points, name this nineteenth century who introduced comparative advantage in his Principles of Political Economy and Taxation and is credited with the "iron law of wages."
This man rejected his own theory that deficit-based spending cannot increase demand because consumers can predict tax increase.
David Ricardo