David Ricardo (1772-1823)

                                       大衛李嘉圖

God helps those who work hard

         Biography                                                                生平

        - Born in London                                                    - 生於倫敦

        - Was the third of 17 children.                              - 於十七兄弟姐妹中排行第三

        - His father was a wealthy merchant banker.    - 父親是富有的商人銀行家

        - Had little formal education in childhood.        - 少年沒有接受正式的教育  

        - Started work for his father at 14.                        - 十四歲開始幫助父親工作

        - At 21, married against his parents' wish.          - 二十一歲不埋父母反對而結婚

        -  Set up on his own as a stockbroker.                   - 開始自立做股票經紀

        -  Had a successful business in the field.               - 事業有成

        -  Retired at 42.                                                        - 四十二歲退休

        -  Concentrated on writings and politics.              - 專心著作及從事政治

        Important Work                                                      重要作品

        -  Principles of political economy and taxation   - 政治經濟及課稅原理

           *Distribution theory                                               *分配理論

              #Dimishing returns of land when facing            #當人口增加,土地酬報遞減

                 rising population.

              #Allocation of factor of production                     # 生產因素分配由經濟地租決定

                 determined by Economic rent.

           * International trade theory                                   * 國際貿易理論

              # Countries gain from trade when it has             # 當有比較優勢時,貿易會獲利

                  relatively lower cost. (comparative advantage)

           Theories we have to learn                                         我們需要學習的理論

            - Law of diminishing returns (S4, S6)                    - 酬報遞減理論 (中四,中六)

            - Economic rent (S6)                                                 - 經濟租 (中六)

            - Law of comparative advantage (S5, S7)              - 比較優勢定律 (中五,中七)

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