14 David Ricardo Quotes for You to Enjoy

David Ricardo

British Economist

Born: Apr 18, 1772

Died: Sep 11, 1823

Capital Commodities Fall Labour Value Will

Related authors: Adam Smith Alan Greenspan E. F. Schumacher John Kenneth Galbraith John Maynard Keynes Milton Friedman Paul A. Volcker Thomas Sowell

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. David Ricardo

Class Judge Profit Correctly Rate Absolute Obtain Obtained Quantity Rent Wages Labour Either Produce Required

Gold and silver are no doubt subject to fluctuations, from the discovery of new and more abundant mines; but such discoveries are rare, and their effects, though powerful, are limited to periods of comparatively short duration. David Ricardo

The exchangeable value of all commodities, rises as the difficulties of their production increase. David Ricardo

Value Difficulties Increase Rises Commodities Production

After all the fertile land in the immediate neighbourhood of the first settlers were cultivated, if capital and population increased, more food would be required, and it could only be procured from land not so advantageously situated. David Ricardo

As the revenue of the farmer is realized in raw produce, or in the value of raw produce, he is interested, as well as the landlord, in its high exchangeable value, but a low price of produce may be compensated to him by a great additional quantity. David Ricardo

Great Value Additional High Price He Raw Well Him Quantity Revenue May Interested Low Landlord Produce Realized Farmer

By far the greatest part of those goods which are the objects of desire, are procured by labour; and they may be multiplied, not in one country alone, but in many, almost without any assignable limit, if we are disposed to bestow the labour necessary to obtain them. David Ricardo

Alone Country Those One Country Bestow Objects Part Almost Goods Obtain Limit Without Greatest Labour Any May Which Them Procured Far Many Necessary Desire

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. David Ricardo

Prosperity Will Fall Encouragement Corn Classes Price Lead Most Obtained Industry Surely Commercial Accumulate Capital Then Means Productive Certainly

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. David Ricardo

Our Ourselves Import Withdraw Were Cultivation Left Gradually Legislative Unfettered Which Them Capital Produce Lands Should Present Raised

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. David Ricardo

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. David Ricardo

Wealth Nation Lost Before Medium Possessed Could Retain Part Quantity Trade Same Any Which Manner Wasted

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. David Ricardo

Time Food Increases Beneficial Ways Facility Obtaining Same Owners Commodities Same Time Capital Amount Profits Raises Two

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