David Ricardo
David Ricardo
David Ricardowas an English political economist. He was one of the most influential of the classical economists, along with Thomas Malthus, Adam Smith, and James Mill...
NationalityBritish
ProfessionNon-Fiction Author
Date of Birth18 April 1772
stupidity profit made
Profits are not made by differential cleverness, but by differential stupidity.
country commodity mass
No extension of foreign trade will immediately increase the amount of value in a country, although it will very powerfully contribute to increase the mass of commodities and therefore the sum of enjoyments.
fall profit labour
There can be no rise in the value of labour without a fall of profits.
country heart may
It is here we come to the heart of the matter. The economic principle of comparative advantage', 'a country may, in return for manufactured commodities, import corn even if it can be grown with less labour than in the country from which it is imported
country prosperity profit
Nothing contributes so much to the prosperity and happiness of a country as high profits.
wages profit farmers
The farmer and manufacturer can no more live without profit than the labourer without wages.
paper economics paper-money
Neither a state nor a bank ever have had unrestricted power of issuing paper money without abusing that power.
commodity increase difficulty
The exchangeable value of all commodities rises as the difficulties of their production increase.
politics natural economy
Labour, like all other things which are purchased and sold... has its natural and its market price.
wealth lost mediums
In the same manner if any nation wasted part of its wealth, or lost part of its trade, it could not retain the same quantity of circulating medium which it before possessed.
issues gold purpose
Experience, however, shows that neither a state nor a bank ever have [sic] had the unrestricted power of issuing paper money without abusing that power; in all states, therefore, the issue of paper money ought to be under some check and control; and none seems so proper for that purpose as that of subjecting the issuers of paper money to the obligation of paying their notes either in gold coin or bullion.
evil choices taxation
Taxation under every form presents but a choice of evils.
supposing-that errors consumption
There can be no greater error then in supposing that capital is increased by non-consumption.
might way would-be
If a commodity were in no way useful, - in other words, if it could in no way contribute to our gratification, - it would be destitute of exchangeable value, however scarce it might be, or whatever quantity of labour might be necessary to procure it.