Indonesian Journal of Contemporary Multidisciplinary Research
Vol. 3 No. 5 (2024): September 2024

A Study on David Ricardo's Economic Philosophy

Agustino, Rinto (Unknown)
Susilastuti, Darwati (Unknown)



Article Info

Publish Date
13 Oct 2024

Abstract

This study aims to describe and analyze the economic philosophy of David Ricardo, who played a pivotal role in transforming economics into an empirical and positivist discipline. Ricardo shifted the approach of economics from speculative theories not based on facts to a science grounded in empirical data and real-world experience. This research highlights how Ricardo identified and explained the economic activities taking place in society during his time. The findings show that Ricardo eliminated unfounded speculation and focused on actual empirical realities, making economics more objective and measurable. These results confirm that Ricardo successfully moved economics away from speculation and toward a data-driven approach.

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Journal Info

Abbrev

modern

Publisher

Subject

Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Industrial & Manufacturing Engineering Social Sciences

Description

Indonesian Journal of Contemporary Multidisciplinary Research (MODERN) is an open-access, double-blind peer-reviewed journal. MODERN is intended to be a multidisciplinary journal for all fields with contemporary methods and techniques in all levels of education, social science, business, and ...