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
british-economist commodity increase lower realized regulate
If the quantity of labour realized in commodities, regulate their exchangeable value, every increase of the quantity of labour must augment the value of that commodity on which it is exercised, as every diminution must lower it.
british-economist course falls occasion profits rent stock
In the course of these observations, I have often had occasion to insist, that rent never falls without the profits of stock rising.
belong british-economist carefully commodity medium regulate variations
In stating the principles which regulate exchangeable value and price, we should carefully distinguish between those variations which belong to the commodity itself, and those which are occasioned by a variation in the medium in which value is estimated, or price expressed.
attended both british-economist comparing equally intensity needs particular periods required scarcely therefore
In comparing therefore the value of the same commodity, at different periods of time, the consideration of the comparative skill and intensity of labour, required for that particular commodity, needs scarcely to be attended to, as it operates equally at both periods.
british-economist capital gradually left produce withdraw
If we were left to ourselves, unfettered by legislative enactments, we should gradually withdraw our capital from the cultivation of such lands, and import the produce which is at present raised upon them.
british-economist
The exchangeable value of all commodities, rises as the difficulties of their production increase.
british-economist common retrograde states wages whether
The rise or fall of wages is common to all states of society, whether it be the stationary, the advancing, or the retrograde state.
british-economist capital invested machinery
The proportions, too, in which the capital that is to support labour, and the capital that is invested in tools, machinery and buildings, may be variously combined.
amount beneficial british-economist facility food increases obtaining owners raises time ways
The facility of obtaining food is beneficial in two ways to the owners of capital, it at the same time raises profits and increases the amount of consumable commodities.
wages profit farmers
The farmer and manufacturer can no more live without profit than the labourer without wages.
country prosperity profit
Nothing contributes so much to the prosperity and happiness of a country as high 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
class judging wages
It is not by the absolute quantity of produce obtained by either class, that we can correctly judge of the rate of profit, rent, and wages, but by the quantity of labour required to obtain that produce.
fall profit labour
There can be no rise in the value of labour without a fall of profits.