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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

“Whenever, then, the usual and ordinary rate of the profits of agricultural stock, and all the outgoings belonging to the cultivation of land, are together equal to the value of the whole produce, there can be no rent.”

Whole Together Values Land Produce Equal Ordinary Rate Profit Belonging Usual Agriculture Cultivation

Book:The Works of David Ricardo: With a Notice of the Life and Writings of the Author

Source: The Works of David Ricardo: With a Notice of the Life and Writings of the Author

“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.”

Earth Three Community United Class Land Produce Industry Surface Labour Owners Divided Application Machinery Cultivation Labourers

Book:On the Principles of Political Economy, and Taxation

Source: On the Principles of Political Economy, and Taxation

“As the revenue of the farmer is realized in raw produce, or in the value of raw produce, he is interested, as well as the landlord, in its high exchangeable value, but a low price of produce may be compensated to him by a great additional quantity.”

Wells May Values Produce Lows Farmers Quantity Revenue Landlord

Book:The Works of David Ricardo. With a notice of the life and writings of the author: by J. R. McCulloch

Source: The Works of David Ricardo. With a notice of the life and writings of the author: by J. R. McCulloch

“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 ...

“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.”

Real Reason Values Effects Produce Profit Wages Alterations Value Of Money

Book:The Works of David Ricardo, Esq., M.P.: With a Notice of the Life and Writings of the Author

Source: The Works of David Ricardo, Esq., M.P.: With a Notice of the Life and Writings of the Author

“Called an inquiry into the laws which determine the division of the produce.”

Law Produce Determine Division Inquiry

Author:David Ricardo

“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.”

Class Produce Judging Absolutes Rate Profit Labour Quantity Wages

Book:The Works of David Ricardo, Esq., M.P.: With a Notice of the Life and Writings of the Author

Source: The Works of David Ricardo, Esq., M.P.: With a Notice of the Life and Writings of the Author

“Profits might also increase, because improvements might take place in agriculture, or in the implements of husbandry, which would augment the produce with the same cost of production.”

Might Produce Cost Increase Profit Productions Improvement Agriculture

Book:The Works of David Ricardo, Esq., M.P.: With a Notice of the Life and Writings of the Author

Source: The Works of David Ricardo, Esq., M.P.: With a Notice of the Life and Writings of the Author

“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.”

Ifs May Pieces Land Produce Farms Portions Cents Corn Manure Unproductive

Book:The Works of David Ricardo. With a notice of the life and writings of the author: by J. R. McCulloch

Source: The Works of David Ricardo. With a notice of the life and writings of the author: by J. R. McCulloch