里卡多的注意或第一次当他提出他的意见“黄金争议”。他的观点在这个问题上,英国的通货膨胀的原因是,英国央行(Bank of England)有倾向发行纸币比要求。过剩的问题,指出从英格兰银行是通货膨胀的原因(福利,2009)。这个想法证明李嘉图在货币数量理论认为,在当今世界相同的被称为货币主义的理论。
David Ricardo was among the most effective economists. His name was included in those few of the economists who got remarkable success and lifelong reputation. He was highly influenced by one of the other great economists of that time who was known as Adam Smith. His interest towards economy increased when he read the book “The Wealth of Nations” by Adam Smith. He wrote his first book on economics at the age of 37years.
Ricardo’s was noticed or the first time when he proposed his views on “bullion controversy”. His views on that issue were that the reason of inflation in England was that the Bank of England has got inclination towards issuing notes more than the requirement. This excess issue of notes from the bank was the reason of inflation in England (Foley, 2009). This idea proved that Ricardo believed in the quantity theory of money, in today’s world the same theory is known as Monetarism.