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 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.
fall wages capacity
The factors left out of the Ricardian equation are falling wages and idle capacity.
fall luxury wages
But a tax on luxuries would no other effect than to raise their price. It would fall wholly on the consumer, and could neither increase wages nor lower profits.
real wages reason
A rise in wages, from an alteration in the value of money, produces a general effect on price, and for that reason it produces no real effect whatever on profits.
competition wages should
Like all other contracts, wages should be left to the fair and free competition of themarket, and should never be controlled by the interference of the legislature.
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.
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.
way wages profit
There is no way of keeping profits up but by keeping wages down....
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.
wages profit farmers
The farmer and manufacturer can no more live without profit than the labourer without wages.
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
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.