Quote

Whenever, then, the usual and ordinary rate of the profits of agricultural stock, and all the outgoings belonging to the cultivation of land, are together equal to the value of the whole produce, there can be no rent.

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
Profit
Agricultural
Together
Whenever
Cultivation
Whole
Rate
Rent
Ordinary
Profits
Value
Belonging
Produce
Agriculture
Equal
Stock
Land
Usual

More quotes by 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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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.
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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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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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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
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Called an inquiry into the laws which determine the division of the produce.
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.
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The factors left out of the Ricardian equation are falling wages and idle capacity.
David Ricardo
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Taxation under every form presents but a choice of evils.
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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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The exchangeable value of all commodities rises as the difficulties of their production increase.
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.
David Ricardo
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Nothing contributes so much to the prosperity and happiness of a country as high profits.
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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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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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
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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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Profits are not made by differential cleverness, but by differential stupidity.
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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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