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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

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David Ricardo
Age: 50 †
Born: 1772
Born: April 19
Died: 1823
Died: January 1
Economist
Philosopher
Politician
Stockbroker
London
England
Produce
Profits
Place
Agriculture
Also
Production
Might
Improvement
Take
Productions
Husbandry
Would
Profit
Augment
Increase
Implements
Cost
Improvements

More quotes by David Ricardo

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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.
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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.
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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.
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Profits are not made by differential cleverness, but by differential stupidity.
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The price of corn will naturally rise with the difficulty of producing the last portions of it.
David Ricardo
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By far the greatest part of those goods which are the objects of desire, are procured by labour and they may be multiplied, not in one country alone, but in many, almost without any assignable limit, if we are disposed to bestow the labour necessary to obtain them.
David Ricardo
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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.
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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
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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
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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
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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
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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
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Utility then is not the measure of exchangeable value, although it is absolutely essential to it.
David Ricardo
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The factors left out of the Ricardian equation are falling wages and idle capacity.
David Ricardo
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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.
David Ricardo
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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
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Called an inquiry into the laws which determine the division of the produce.
David Ricardo
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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
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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
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The farmer and manufacturer can no more live without profit than the labourer without wages.
David Ricardo