Less well-known than Adam Smith, Ricardo is nevertheless his intellectual and philosophical equal. He is credited alongside Smith with founding the classical school of economics. Inspired by Smith and driven by his friend, James Mill (father of John Stuart Mill), Ricardo provides an historical bridge between the economic and political liberals, although his own writings…

Adam Smith did for economic liberalism what John Locke had done for political liberalism, namely, to lay the philosophical foundations on which others would build a distinctive liberal tradition. Smith’s ideas, however, have permeated the western political tradition to the extent where not only liberals but also other contemporary schools of thought claim to be…