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The exchangeable value of all commodities rises as the difficulties of their production increase.
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
Values
Rises
Commodity
Difficulties
Production
Productions
Difficulty
Increase
Value
Commodities
More quotes by 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
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
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.
David Ricardo
Taxation under every form presents but a choice of evils.
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
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.
David Ricardo
The price of corn will naturally rise with the difficulty of producing the last portions of 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
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
The factors left out of the Ricardian equation are falling wages and idle capacity.
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
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
Gold, on the contrary, though of little use compared with air or water, will exchange for a great quantity of other goods.
David Ricardo
Utility then is not the measure of exchangeable value, although it is absolutely essential to it.
David Ricardo
Called an inquiry into the laws which determine the division of the produce.
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.
David Ricardo
Nothing contributes so much to the prosperity and happiness of a country as high profits.
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.
David Ricardo
