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Quote by David Ricardo

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

Quote by David Ricardo

Book:On the Principles of Political Economy, and Taxation

Work

On the Principles of Political Economy, and Taxation

This book explores the fundamental principles of political economy and taxation, offering a detailed analysis of economic systems and fiscal policies. more

Author

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. more

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“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 ...

“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.”

May Natural Race Increase Labour Quantity Labourers

Author:David Ricardo

“There can be no greater error then in supposing that capital is increased by non-consumption.”

Greater Errors Consumption Supposing Supposing That

Author: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

“Spare me the whispering, crowded room, the friends who come and gape and go, the ceremonious air of gloom - all, which makes death a hideous show.”

Shows Rooms Air Spares Crowded Gloom Hideous Whispering

Book:Delphi Complete Poetical Works of Matthew Arnold (Illustrated)

Source: Delphi Complete Poetical Works of Matthew Arnold (Illustrated)

“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

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“The wheat bought by a farmer to sow is comparatively a fixed capital to the wheat purchased by a baker to make into loaves.”

Fixed Farmers Wheat Bakers

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

“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