Quotes by David Ricardo - Page 2

During the period of capital moving from one employment to another, the profits on that to which capital is flowing will be relatively high, but will continue so no longer than till the requisite capital is obtained.
David Ricardo / Economist
Employment
Moved On
Moving
Capital
Flowing
Obtained
Till
Relatively
Profits
Requisite
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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 / Economist
Agriculture
Belonging
Cultivation
Equal
Land
Ordinary
Produce
Rate
Together
Usual
Agricultural
Rent
Stock
Value
Whenever
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The opinions that the price of commodities depends solely on the proportion of supply and demand, or demand to supply, has become almost an axiom in political economy, and has been the source of much error in that science.
David Ricardo / Economist
Demand
Errors
Political
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If then the prosperity of the commercial classes, will most certainly lead to accumulation of capital, and the encouragement of productive industry; these can by no means be so surely obtained as by a fall in the price of corn.
David Ricardo / Economist
Encouragement
Class
Corn
Fall
Mean
Prosperity
Accumulate
Capital
Certainly
Classes
Commercial
Obtained
Price
Surely
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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 / Economist
Discovery
Doubt
Duration
Effects
Gold
Mines
No Doubt
Periods
Powerful
Silver
Abundant
Rare
Comparatively
Discoveries
Short
Limited
Subject
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If the quantity of labour realized in commodities, regulate their exchangeable value, every increase of the quantity of labour must augment the value of that commodity on which it is exercised, as every diminution must lower it.
David Ricardo / Economist
Increase
Labour
Quantity
Commodities
Diminution
Lower
Realized
Regulate
Value
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After all the fertile land in the immediate neighbourhood of the first settlers were cultivated, if capital and population increased, more food would be required, and it could only be procured from land not so advantageously situated.
David Ricardo / Economist
Fertile
Land
Population
Settlers
Would Be
Capital
Cultivated
Immediate
Increased
Neighbourhood
Procured
Required
Situated
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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 / Economist
Finance
Arbitrary
Dependent
Employed
Gold
Labour
Mines
Produce
Quantity
Scarcity
Silver
Like
Bestowed
Them
Capital
Commodities
Intrinsic
Other
Value
Which
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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 / Economist
Landlord
Lows
May
Produce
Quantity
Revenue
Additional
Farmer
Low
Price
Raw
Realized
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Adam Smith, and other able writers to whom I have alluded, not having viewed correctly the principles of rent, have, it appears to me, overlooked many important truths, which can only be discovered after the subject of rent is thoroughly understood.
David Ricardo / Economist
Able
Important
Principles
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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.
David Ricardo / Economist
Commodity
Destitute
Gratification
Labour
Might
Quantity
Scarce
Way
Would Be
Useful
Contribute
In Other Words
Procure
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It is here we come to the heart of the matter. The economic principle of comparative advantage', 'a country may, in return for manufactured commodities, import corn even if it can be grown with less labour than in the country from which it is imported
David Ricardo / Economist
Country
Heart
Principles
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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 / Economist
Country
Desire
May
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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 / Economist
Goods
Labour
Objects
Bestow
Limit
Obtain
One Country
Procured
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In comparing therefore the value of the same commodity, at different periods of time, the consideration of the comparative skill and intensity of labour, required for that particular commodity, needs scarcely to be attended to, as it operates equally at both periods.
David Ricardo / Economist
Commodity
Consideration
Intensity
Labour
Periods
Attended
Comparative
Equally
Required
Scarcely
Skill
Therefore
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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 / Economist
Cases
Causes
Confined
Labour
Regard
Variation
Wages
Accompanied
Rise
Commodities
Indeed
Invariably
Price
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In stating the principles which regulate exchangeable value and price, we should carefully distinguish between those variations which belong to the commodity itself, and those which are occasioned by a variation in the medium in which value is estimated, or price expressed.
David Ricardo / Economist
Commodity
Belong
Carefully
Distinguish
Estimated
Expressed
Medium
Price
Regulate
Stating
Value
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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 / Economist
Country
Gold
Variation
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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 / Economist
Differences
Long
Mind
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I have endeavoured to show that the ability to pay taxes depends, not on the gross money value of the mass of commodities, nor on the net money value of the revenue of capitalists and landlords, but on the money value of each man's revenue compared to the money value of the commodities which he usually consumes.
David Ricardo / Economist
Men
Commodity
Pay
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The produce of the earth - all that is derived from its surface by the united application of labour, machinery, and capital, is divided among three classes of the community, namely, the proprietor of the land, the owner of the stock or capital necessary for its cultivation, and the labourers by whose industry it is cultivated.
David Ricardo / Economist
Class
Community
Land
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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 / Economist
May
Natural
Race
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The last point for consideration is the supposed disposition of the people to interfere with the rights of property. So essential does it appear to me, to the cause of good government, that the rights of property should be held sacred, that I would agree to deprive those of the elective franchise against whom it could justly be alleged that they considered it their interest to invade them.
David Ricardo / Economist
Wisdom
Government
Rights
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Experience, however, shows that neither a state nor a bank ever have [sic] had the unrestricted power of issuing paper money without abusing that power; in all states, therefore, the issue of paper money ought to be under some check and control; and none seems so proper for that purpose as that of subjecting the issuers of paper money to the obligation of paying their notes either in gold coin or bullion.
David Ricardo / Economist
Gold
Issues
Purpose
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