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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

“The factors left out of the Ricardian equation are falling wages and idle capacity.”

Fall Left Capacity Factors Idle Wages Equations Left Out

Author:David Ricardo

“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.”

Should Wisdom Politics Left Economy Fairs Competition Liberalism Controlled Contracts Wages Legislature Interference

Author:David Ricardo

“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.”

Labour Commodity Wages Machinery Consumed

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

“There is no way of keeping profits up but by keeping wages down.”

Way Business Profit Finance Wages

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

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

“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.”

Has Beens Found Causes Cases Regard Labour Commodity Wages Variation Confined

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

“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

“The farmer and manufacturer can no more live without profit than the labourer without wages.”

Business Company Economics Workers Profit Makers Farmers Wages Farming Labourers

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

“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.”

Fall Effects Taxes Increase Raises Profit Luxury Consumers Wages

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