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David Ricardo

David Ricardo Quotes

Economist

David Ricardo (April 18, 1772 - September 11, 1823) was a British economist and one of the key figures in the classical school of economics. He is known for his theory of comparative advantage, which has had a profound impact on the development of economics.

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All Values Commodity Labour Profit Ifs Produce Quantity Wages May Fall Increase Class Corn Country Economy Effects Gold Labourers Landlord Demand

Famous David Ricardo Quotes

“Gold and silver are no doubt subject to fluctuations, from the discovery of new and more abundant mines; but such discoveries are rare, and their effects, though powerful, are limited to periods of comparatively short duration.”

Powerful Doubt Subjects Effects Mines Periods Discovery Gold No Doubt Silver Duration Fluctuation Gold And Silver

Book:The Works of David Ricardo ...

Source: The Works of David Ricardo ...

“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.”

May Made Stills Country Values Natural Standards Gold Honestly Permanent Silver Temporary Commodity Conform Coins Variation Liable Fluctuation Gold And Silver

Book:The Works of David Ricardo ...

Source: The Works of David Ricardo ...

“Experience, however, shows that neither a state nor a bank ever have [sic] had the unrestricted power of issuing paper money without abusing that power; in all states, therefore, the issue of paper money ought to be under some check and control; and none seems so proper for that purpose as that of subjecting the issuers of paper money to the obligation of paying their notes either in gold coin or bullion.”

States Shows Seems Purpose Issues Ought Paper Gold Notes Checks Obligation Coins Paper Money All State Gold Coins

Author:David Ricardo

“Gold and silver, like other commodities, have an intrinsic value, which is not arbitrary, but is dependent on their scarcity, the quantity of labour bestowed in procuring them, and the value of the capital employed in the mines which produce them.”

Values Produce Mines Gold Finance Dependent Labour Silver Quantity Commodity Employed Arbitrary Scarcity Intrinsic Value Gold And Silver

Book:The Works of David Ricardo ...

Source: The Works of David Ricardo ...

“Gold, on the contrary, though of little use compared with air or water, will exchange for a great quantity of other goods.”

Littles Use Water Air Gold Contrary Goods Quantity

Book:On the Principles of Political Economy, and Taxation

Source: On the Principles of Political Economy, and Taxation