David Ricardo

Quotes

Mr. Malthus says, " It has been justly observed by Adam Smith that no equal quantity of productive labour employed in manufactures can ever occasion so great a reproduction as in agriculture. " If Adam Smith speaks of value, he is correct; but if he speaks of riches, which is the important point, he is mistaken; for he has himself defined riches to consist of the necessaries, conveniences, and enjoyments of human life. One set of necessaries and conveniences admits of no comparison with another set; value in use cannot be measured by any known standard; it is differently estimated by different persons.
p. 292
The Principles of Political Economy and Taxation
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.
p. 288
The Principles of Political Economy and Taxation
If capital freely flowed towards those countries where it could be most profitably employed, there could be no difference in the rate of profit, and no other difference in the real or labour price of commodities, than the additional quantity of labour required to convey them to the various markets where they were to be sold. Experience, however, shews, that the fancied or real insecurity of capital, when not under the immediate control of its owner, together with the natural disinclination which every man has to quit the country of his birth and connexions, and intrust himself with all his habits fixed, to a strange government and new laws, check the emigration of capital. These feelings, which I should be sorry to see weakened, induce most men of property to be satisfied with a low rate of profits in their own country, rather than seek a more advantageous employment for their wealth in foreign nations.
p. 83
The Principles of Political Economy and Taxation
If I discover a manure which will enable me to make a piece of land produce 20 per cent more corn, I may withdraw at least a portion of my capital from the most unproductive part of my farm.
p. 43
The Principles of Political Economy and Taxation
The variation in the value of money, however great, makes no difference in the rate of profits;...
p. 32
The Principles of Political Economy and Taxation
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.
p. 52
The Principles of Political Economy and Taxation
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.
p. 77
The Principles of Political Economy and Taxation
It has been my endeavour to show in this work that a fall of wages would have no other effect than to raise profits.
p. 281
The Principles of Political Economy and Taxation
Neither machines, nor the commodities made by them, rise in real value, but all commodities made by machines fall, and fall in proportion to their durability.
p. 26
The Principles of Political Economy and Taxation
The demand for money is regulated entirely by its value, and its value by its quantity.
p. 123
The Principles of Political Economy and Taxation
" for price is everywhere regulated by the return obtained by this last portion of capital, for which no rent whatever is paid.
p. 220
The Principles of Political Economy and Taxation
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.
p. 1
The Principles of Political Economy and Taxation