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
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.
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.
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
The exchangeable value of all commodities, rises as the difficulties of their production increase.
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.
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.
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.
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.
class community interest
The interest of the landlord is always opposed to the interests of every other class in the community.
earth soil portions
Rent is the portion of the earth, which is paid to the landlord for the user of the original and indestructible powers of the soil
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.
essentials utility values
Utility then is not the measure of exchangeable value, although it is absolutely essential to it.
country gold variation
It has therefore been justly observed that however honestly the coin of a country may conform to its standard, money made of gold and silver is still liable to fluctuations in value, not only to accidental, and temporary, but to permanent and natural variations, in the same manner as other commodities.
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.