Ricardo did not only confine the scope of economics but he also, by starting from generally accepted starting postulates, drew theoretical economics away from the real world and praised logical refutation rather than empirical verification. Why is this called as “Ricardian vice”?

Ricardian vice refers to abstract model building an mathematical formulas with in unrealistic assumptions. The Ricardian vice is the tendency for economics to make and tests theories aren’t trouble by the complexity of reality, resulting in theories that are mathematically beautiful but largely useless for practical application . The Ricardian vice is prevalent in economics and is named after David Ricardo. One of the First economic to bring mathematical rigor to the discipline. Hence he is called Ricardian vice.