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Taxation under every form presents but a choice of evils.

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

Agriculture Husband Improvement Profit
The exchangeable value of all commodities rises as the difficulties of their production increase.
DAVID RICARDO

Commodity exchange Increase Production Value
I have already expressed my opinion on this subject in treating of rent, and have now only further to add, that rent is a creation of value, as I understand that word, but not a creation of wealth.
DAVID RICARDO

Creation Expression Opinion Subject Understand Wealth
The factors left out of the Ricardian equation are falling wages and idle capacity.
DAVID RICARDO

Capacity Equation Factor
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

Additional exchange Farmer Production Quantity Revenue Value
Rent is the portion of the earth, which is paid to the landlord for the user of the original and indestructible powers of the soil
DAVID RICARDO

Earth Original Paid Rent Soil
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

Belong Ordinary Production Profit Rate Togetherness Value
Utility then is not the measure of exchangeable value, although it is absolutely essential to it.
DAVID RICARDO

Essential exchange Measurement Value
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

Commodity Machine Production Rise Wage
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

Capital Farmer Purchase
But it is clear that the price of labour has no necessary connection with the price of food, since it depends entirely on the supply of labourers compared with the demand.
DAVID RICARDO

Clear Compare Connection Demand Labor Necessary Price
Neither machines, nor the commodities made by them, rise in real value, but all commodities made by machines fall, and fall in proportion to their durability.
DAVID RICARDO

Commodity Fall Machine Reality Value
Called an inquiry into the laws which determine the division of the produce.
DAVID RICARDO

Determination Division Law Production
If a tax on malt would raise the price of beer, a tax on bread must raise the price of bread.
DAVID RICARDO

Beer Food Price Raise Tax
The interest of the landlord is always opposed to the interests of every other class in the community.
DAVID RICARDO

Class Community Interest
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

Advantage Economics Growth Heart Import Manufacture Principle

Taxation under every form presents but a choice of evils.

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Taxation under every form presents but a choice of evils.

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