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
DAVID RICARDO
David Ricardo on expression
David Ricardo55 quotes“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.”
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Called an inquiry into the laws which determine the division of the produce.
David RicardoDavid Ricardo The variation in the value of money, however great, makes no difference in the rate of profits.
David RicardoDavid 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 RicardoDavid Ricardo 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 RicardoDavid 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 RicardoDavid Ricardo For price is everywhere regulated by the return obtained by this last portion of capital, for which no rent whatever is paid.
David RicardoDavid Ricardo There can be no greater error then in supposing that capital is increased by non-consumption.
David RicardoDavid 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 RicardoDavid Ricardo It is not by the absolute quantity of produce obtained by either class, that we can correctly judge of the rate of profit, rent, and wages, but by the quantity of labour required to obtain that produce.
David RicardoDavid Ricardo Money is neither a material to work upon nor a tool to work with.
David RicardoDavid 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 RicardoDavid Ricardo The price of corn will naturally rise with the difficulty of producing the last portions of it.
David RicardoDavid Ricardo Whether a bank lent one million, ten million, or a hundred millions, they would not permanently alter the market rate of interest; they would alter only the value of the money they issued.
David RicardoDavid 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 RicardoDavid Ricardo Labour, like all other things which are purchased and sold, has its natural and its market price.
David RicardoDavid Ricardo Whenever the current of money is forcibly stopped, and when money is prevented from settling at its just level, there are no limits to the possible variations of the exchange.
David RicardoDavid Ricardo
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