the valuable past institutions, cultures, and habits. He
saw the British and American revolutions as orderly,
rational, and preserving historic liberty and RIGHTS.
The U.S. Constitution attempted to institutionalize
political change through periodic elections, Supreme
Court interpretation, and the constitutional-amend-
ment procedure.
Further Readings
Brinton, C. The Anatomy of Revolution. New Y ork: Vintage
Books, 1965.
Goldstone, J. A., ed. Revolutions: Theoretical, Comparative, and
Historical Studies. San Diego, Calif.: Harcourt Brace
Jovanovich, 1986.
Ricardo, David (1772–1823) Economist
David Ricardo is associated with the classical school of
economics along with such figures as Adam SMITH,
Jeremy BENTHAM, James MILL, and John McCulloch.
Aspects of his work were also important to SOCIALIST
and COMMUNISTpolitical theorists.
Ricardo along with Smith and others argued for
open economic markets, minimum taxation, and the
least possible government control and influence in
economic affairs and relations. The thought here was
that individuals left free to pursue their own economic
interests would contribute through this activity to the
general prosperity and well-being of the country.
Ricardo’s main contribution to this economic theory
was his theory of rent and its associated theory of
value.
Ricardo argued that the value of commodities was
determined by the value of the labor required to pro-
duce them. Ricardo applied this idea, along with his
commitments to LAISSEZ-FAIRE CAPITALISM, to the eco-
nomic issues of his time, specifically to the role of pre-
cious metals in the national economy, the price of
corn, and the role of rent on the productivity of agri-
cultural lands. He addressed these concerns in a num-
ber of pamphlets published from 1809 onward. With
the encouragement of his friend James Mill, he pub-
lished a systematic account of his views in 1817 titled
Principles of Political Economy and Taxation.
Ricar do’s claim that labor is the source of value was
taken up by thinkers such as MARXas a basis for attack-
ing and criticizing capitalist economic and social
arrangements. They argued that workers deserve the
full value, or at least most of the value, of their labor.
Correspondingly, it was argued that capitalist profit is
the theft of value from the worker who produces it.
Ricardo was born in England and was educated in
both England and Holland, where his father was born.
He left school at the age of 14 when he joined his
father’s business. Although he had no higher educa-
tion, Ricardo was a very successful businessman and
made his fortune early. In 1819, he became a member
of Parliament for a very small Irish constituency.
Because Ricardo had never been to Ireland, it is
assumed he bought the seat, which he kept until his
death at the age of 51.Further Reading
Samuels, W. J. The Classical Theory of Economic Policy.Cleve-
land: World, 1966.Richelieu, Armand-Jean du Plessis, Cardinal
de (1585–1642) French politician and churchman
An able CHURCH AND STATEadministrator, Richelieu was
consecrated bishop of Luçon, France, in 1606 and
elected to national Estates-General assembly in 1614.
King Louis XIII appointed him secretary of state in- Later, as President of the Council of Ministers,
he became the de facto ruler of France. During the
CATHOLIC–Protestant wars, Richelieu at times tolerated,
at other times attacked, the HUGUENOTS; supported
German Protestant princes; and advocated church
independence from Rome. He wrote on ABSOLUTISM
similar to Jean BODIN. As an active late MEDIEVALcardi-
nal and statesman, he exemplified the European inte-
gration of religion and politics.
Right/Right-wing
In political IDEOLOGY, the Right is a CONSERVATIVEposi-
tion associated in Britain and the United States with
the probusiness, limited WELFARE-STAT E views of the
Conservative Party (United Kingdom) and REPUBLICAN
PARTY(United States). Familiar leaders of these Right-
wing attitudes and policies include Prime Minister
Margaret Thatcher and President Ronald REAGAN.
Rightist politics favor free-enterprise CAPITALISM, lower
taxes, reduced social welfare programs, and individual
FREEDOM. This is contrasted with the Liberal LEFT,
which advocates increased welfare-state SOCIALISM, reg-
ulation of business, and social EQUALITY.260 Ricardo, David