Question

Adam smith theory of development compare with recardo?

Answer 1

Answer:

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The Ricardian theory of development as we have seen in his analysis is based upon two fundamental principles, viz., principle of diminishing returns and the principle of population growth. Ricardo like Smith realises that a high rate of capital accumulation is necessary for economic growth.

Answer 2

Answer:

☑ The Ricardian theory of development as we have seen in his analysis is based upon two fundamental principles, viz., principle of diminishing returns and the principle of population growth. Ricardo like Smith realises that a high rate of capital accumulation is necessary for economic growth.