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Gold, on the contrary, though of little use compared with air or water, will exchange for a great quantity of other goods.
David Ricardo
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David Ricardo
Age: 50 †
Born: 1772
Born: April 19
Died: 1823
Died: January 1
Economist
Philosopher
Politician
Stockbroker
London
England
Little
Goods
Great
Contrary
Air
Gold
Though
Water
Exchange
Use
Quantity
Littles
Compared
More quotes by David Ricardo
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.
David Ricardo
Taxation under every form presents but a choice of evils.
David Ricardo
The factors left out of the Ricardian equation are falling wages and idle capacity.
David Ricardo
It appears to me that one great cause of our difference in opinion on subjects which we often discuss is that you have always in mind the immediate and temporary effects of particular changes, whereas I put these effects quite aside, and fix my whole attention on the long-term effects that will result from them.
David Ricardo
The farmer and manufacturer can no more live without profit than the labourer without wages.
David Ricardo
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.
David Ricardo
Profits are not made by differential cleverness, but by differential stupidity.
David Ricardo
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.
David Ricardo
Utility then is not the measure of exchangeable value, although it is absolutely essential to it.
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.
David Ricardo
Every transaction in commerce is an independent transaction.
David Ricardo
Nothing contributes so much to the prosperity and happiness of a country as high profits.
David Ricardo
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.
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.
David Ricardo
Again two manufacturers may employ the same amount of fixed, and the same amount of circulating capital but the durability of their fixed capitals may be very unequal.
David Ricardo
The exchangeable value of all commodities rises as the difficulties of their production increase.
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.
David Ricardo
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.
David Ricardo
The wheat bought by a farmer to sow is comparatively a fixed capital to the wheat purchased by a baker to make into loaves.
David Ricardo
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.
David Ricardo
