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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 Ricardo

If English money was of the same value then as before, Hamburgh money must have risen in value. But where is the proof of this?
DAVID RICARDO

Evidence Money Rise Value
In the same manner if any nation wasted part of its wealth, or lost part of its trade, it could not retain the same quantity of circulating medium which it before possessed.
DAVID RICARDO

Nation Possession Quantity Wasted Time
Utility then is not the measure of exchangeable value, although it is absolutely essential to it.
DAVID RICARDO

Essential exchange Measurement 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
Labour, like all other things which are purchased and sold, has its natural and its market price.
DAVID RICARDO

Market Natural Price Purchase Sold Value
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

Consume Effect Fall Luxury Price Profit Tax
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
The price of corn will naturally rise with the difficulty of producing the last portions of it.
DAVID RICARDO

Natural Portion Price
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 RICARDO

Bank Issue Loan Money Value
There can be no rise in the value of labour without a fall of profits.
DAVID RICARDO

Fall Labour Profit Rise Value
The demand for money is regulated entirely by its value, and its value by its quantity.
DAVID RICARDO

Demand Quantity 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
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

Capital Employment Flow Move Relative
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
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

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.

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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.

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