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
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.
wages commodity machinery
But a rise in the wages of labour would not equally affect commodities produced with machinery quickly consumed, and commodities produced with machinery slowly consumed.
two scarcity commodity
Possessing utility, commodities derive their exchangeable value from two sources: from their scarcity, and from the quantity of labour required to obtain them.
men pay commodity
I have endeavoured to show that the ability to pay taxes depends, not on the gross money value of the mass of commodities, nor on the net money value of the revenue of capitalists and landlords, but on the money value of each man's revenue compared to the money value of the commodities which he usually consumes.
commodity increase difficulty
The exchangeable value of all commodities rises as the difficulties of their production increase.
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.
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.
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.
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.