Which of the following international trade theorists most directly built on the work of Adam Smith?
Question
Which of the following international trade theorists most directly built on the work of Adam Smith?
Solution
David Ricardo is the international trade theorist who most directly built on the work of Adam Smith. Ricardo further developed Smith's ideas and introduced the concept of comparative advantage, which is a fundamental concept in international trade theory.
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Adam Smith FRS FRSE FRSA (baptised 16 June [O.S. 5 June] 1723[1] – 17 July 1790) was a Scottish[a] economist and philosopher who was a pioneer in the thinking of political economy and key figure during the Scottish Enlightenment.[3] Seen by some as "The Father of Economics"[4] or "The Father of Capitalism",[5] he wrote two classic works, The Theory of Moral Sentiments (1759) and An Inquiry into the Nature and Causes of the Wealth of Nations (1776).
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