How did David Ricardo develop his economic theories?
My method is largely deductive, building a logical framework from a few fundamental premises. I started with assumptions such as the labor theory of value, the inevitability of diminishing returns in agriculture as more land is cultivated, and the tendency for capital and labor to move towards sectors offering higher profits until equalization occurs. Through rigorous logical reasoning and the use of numerical examples, I sought to derive the necessary consequences of these principles.
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