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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

“I have endeavoured to show that the ability to pay taxes depends, not on the gross money value of the mass of commodities, nor on the net money value of the revenue of capitalists and landlords, but on the money value of each man's revenue compared to the money value of the commodities which he usually consumes.”

Men Shows Values Ability Pay Depends Taxes Mass Capitalist Commodity Gross 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

“Utility then is not the measure of exchangeable value, although it is absolutely essential to it.”

Values Essentials Utility

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

“Possessing utility, commodities derive their exchangeable value from two sources: from their scarcity, and from the quantity of labour required to obtain them.”

Two Values Source Labour Quantity Commodity Utility Possessing Scarcity

Book:On the Principles of Political Economy, and Taxation

Source: On the Principles of Political Economy, and Taxation

“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 ...

“The demand for money is regulated entirely by its value, and its value by its quantity.”

Values Demand Quantity

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

“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.”

Values Amount Taxes Increase Raises Commodity Value Of Money

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

“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.”

Made Real Values Fall Machines Proportion Commodity Real Value Durability

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

“The variation in the value of money, however great, makes no difference in the rate of profits.”

Values Differences Rate Profit Variation Value Of Money

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

“If English money was of the same value then as before, Hamburgh money must have risen in value. But where is the proof of this?”

Ifs Values Proof Risen

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

“Whether a bank lent one million, ten million, or a hundred millions, they would not permanently alter the market rate of interest; they would alter only the value of the money they issued.”

Values Interest Millions Ten Hundred Rate

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

“I have already expressed my opinion on this subject in treating of rent, and have now only further to add, that rent is a creation of value, as I understand that word, but not a creation of wealth.”

Values Wealth Opinion Subjects Creation Add

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

“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

“If a commodity were in no way useful, - in other words, if it could in no way contribute to our gratification, - it would be destitute of exchangeable value, however scarce it might be, or whatever quantity of labour might be necessary to procure it.”

Ifs Way Might Would Be Values Labour Quantity Commodity Gratification Scarce Destitute

Book:On the Principles of Political Economy, and Taxation

Source: On the Principles of Political Economy, and Taxation

“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 ...

“There can be no rise in the value of labour without a fall of profits.”

Values Fall Profit Finance Labour Falling Apart

Book:On the Principles of Political Economy, and Taxation

Source: On the Principles of Political Economy, and Taxation

“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

“The exchangeable value of all commodities rises as the difficulties of their production increase.”

Values Difficulty Increase Productions Commodity

Book:The Works of David Ricardo ...

Source: The Works of David Ricardo ...

“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.”

Country Values Amount Mass Increase Trade Enjoyment Commodity Extensions Very Powerful Foreign Trade

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