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
land may corn
If I discover a manure which will enable me to make a piece of land produce 20 per cent more corn, I may withdraw at least a portion of my capital from the most unproductive part of my farm.
land class community
The produce of the earth - all that is derived from its surface by the united application of labour, machinery, and capital, is divided among three classes of the community, namely, the proprietor of the land, the owner of the stock or capital necessary for its cultivation, and the labourers by whose industry it is cultivated.
wheat bakers fixed
The wheat bought by a farmer to sow is comparatively a fixed capital to the wheat purchased by a baker to make into loaves.
competition wages should
Like all other contracts, wages should be left to the fair and free competition of themarket, and should never be controlled by the interference of the legislature.
fall wages capacity
The factors left out of the Ricardian equation are falling wages and idle capacity.
commodity increase taxes
To alter the money value of commodities, by altering the value of money, and yet to raise the same money amount by taxes, is then undoubtedly to increase the burthens of society.
demand quantity values
The demand for money is regulated entirely by its value, and its value by its quantity.
race may natural
LABOUR, like all other things which are purchased and sold, and which may be increased or diminished in quantity, has its natural and its market price. The natural price of labour is that price which is necessary to enable the labourers, on with another, to subsist and to perpetuate their race, without either increase or diminution.
essentials utility values
Utility then is not the measure of exchangeable value, although it is absolutely essential to it.
encouragement fall mean
If then the prosperity of the commercial classes, will most certainly lead to accumulation of capital, and the encouragement of productive industry; these can by no means be so surely obtained as by a fall in the price of corn.