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Ricardo’s Theory of Economic Development & Distribution Explained | Diminishing Returns, Rent, Profit & Stationary State for IGNOU MEC/MECE

Explore a powerful, exam-focused breakdown of David Ricardo’s theory of economic development and distribution—essential for IGNOU MEC/MECE, UPSC, UGC-NET, and all economics learners 📚🔥. This meta description simplifies Ricardo’s core assumptions such as diminishing returns to land, subsistence wage, and the division of output among landlords (rent), capitalists (profit), and laborers (wages). Understand how Ricardo linked capital accumulation to profit, why rising wages reduce profits, and how increasing rents push the economy toward a stationary state where growth halts 🌾📉. The post also explores key criticisms, including Ricardo’s neglect of technological progress, overemphasis on agriculture, and pessimistic outlook on long-term economic growth. Perfect for exam preparation, assignments, and conceptual clarity, this content helps students grasp the structure, logic, and limitations of the Ricardian model with clarity and confidence 🚀💡.

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