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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

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
Every transaction in commerce is an independent transaction.
DAVID RICARDO

Commerce Independent Transaction
There can be no rise in the value of labour without a fall of profits.
DAVID RICARDO

Fall Labour Profit Rise Value
The variation in the value of money, however great, makes no difference in the rate of profits.
DAVID RICARDO

Greatness Money Profit Rate Value
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

Commodity Employment Gold Production Quantity Silver Value
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
To alter the money value of commodities, by altering the value of money, and yet to raise the same money amount by taxes, is then undoubtedly to increase the burthens of society.
DAVID RICARDO

Commodity Doubt Increase Money Value
The interest of the landlord is always opposed to the interests of every other class in the community.
DAVID RICARDO

Class Community Interest
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
The farmer and manufacturer can no more live without profit than the labourer without wages.
DAVID RICARDO

Farmer Live Manufacture Profit Wage
Money is neither a material to work upon nor a tool to work with.
DAVID RICARDO

Material Money Tools Work
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

Cultivate Fertile Land Population Requirement Situation
Gold, on the contrary, though of little use compared with air or water, will exchange for a great quantity of other goods.
DAVID RICARDO

Compare exchange Gold Goodness Greatness
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
Like all other contracts, wages should be left to the fair and free competition of themarket, and should never be controlled by the interference of the legislature.
DAVID RICARDO

Competition Contract Control Freedom Legislature Wage
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 RICARDO

Money Production Profit Real Rise 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.

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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.

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