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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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David Ricardo
Age: 50 †
Born: 1772
Born: April 19
Died: 1823
Died: January 1
Economist
Philosopher
Politician
Stockbroker
London
England
Values
Utility
Measure
Essential
Essentials
Although
Absolutely
Value
More quotes by David Ricardo
The factors left out of the Ricardian equation are falling wages and idle capacity.
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
The price of corn will naturally rise with the difficulty of producing the last portions of it.
David Ricardo
Called an inquiry into the laws which determine the division of the produce.
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
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 farmer and manufacturer can no more live without profit than the labourer without wages.
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
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
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
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
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
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
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.
David Ricardo
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
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
Every transaction in commerce is an independent transaction.
David Ricardo
Profits are not made by differential cleverness, but by differential stupidity.
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
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
