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There is no way of keeping profits up but by keeping wages down.

David Ricardo

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
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

Commodity Contribute exchange Necessary Quantity Scarce Way
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
Possessing utility, commodities derive their exchangeable value from two sources: from their scarcity, and from the quantity of labour required to obtain them.
DAVID RICARDO

Commodity Possession Require Source Value
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
If the demand for home commodities should be diminished, because of the fall of rent on the part of the landlords, it will be increased in a far greater degree by the increased opulence of the commercial classes.
DAVID RICARDO

Class Commercial Commodity Degree Demand Greatness Home
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
I wish that I may never think the smiles of the great and powerful a sufficient inducement to turn aside from the straight path of honesty and the convictions of my own mind.
DAVID RICARDO

Greatness Honesty Mindset Powerful Thinking
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

Capital Equality Fix Man
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
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
Taxation under every form presents but a choice of evils.
DAVID RICARDO

Choice Evil Option
The variation in the value of money, however great, makes no difference in the rate of profits.
DAVID RICARDO

Greatness Money Profit Rate Value
Called an inquiry into the laws which determine the division of the produce.
DAVID RICARDO

Determination Division Law Production
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
Every transaction in commerce is an independent transaction.
DAVID RICARDO

Commerce Independent Transaction

There is no way of keeping profits up but by keeping wages down.

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There is no way of keeping profits up but by keeping wages down.

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