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
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.
differences variation profit
The variation in the value of money, however great, makes no difference in the rate of profits;...
limits variation levels
Whenever the current of money is forcibly stopped, and when money is prevented from settling at its just level, there are no limits to the possible variations of the exchange.
variation causes wages
A rise of wages from this cause will, indeed, be invariably accompanied by a rise in the price of commodities; but in such cases, it will be found that labour and all commodities have not varied in regard to each other, and that the variation has been confined to money.
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.
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.
demand quantity values
The demand for money is regulated entirely by its value, and its value by its quantity.
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.
fall wages capacity
The factors left out of the Ricardian equation are falling wages and idle capacity.