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The variation in the value of money, however great, makes no difference in the rate of profits.

David 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 RICARDO

Additional exchange Farmer Production Quantity Revenue 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
Profits are not made by differential cleverness, but by differential stupidity.
DAVID RICARDO

Clever Different Profit Stupidity
The interest of the landlord is always opposed to the interests of every other class in the community.
DAVID RICARDO

Class Community Interest
The factors left out of the Ricardian equation are falling wages and idle capacity.
DAVID RICARDO

Capacity Equation Factor
Nothing contributes so much to the prosperity and happiness of a country as high profits.
DAVID RICARDO

Contribute Country Happiness Prosperity
If then the prosperity of the commercial classes, will most certainly lead to accumulation of capital, and the encouragement of productive industry; these can by no means be so surely obtained as by a fall in the price of corn.
DAVID RICARDO

Capital Class Commercial Encouragement Prosperity
The exchangeable value of all commodities rises as the difficulties of their production increase.
DAVID RICARDO

Commodity exchange Increase Production Value
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
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
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
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
There can be no greater error then in supposing that capital is increased by non-consumption.
DAVID RICARDO

Consumption Errors Greatness Increase
Neither a state nor a bank ever have had unrestricted power of issuing paper money without abusing that power.
DAVID RICARDO

Abuse Bank Power State
If I discover a manure which will enable me to make a piece of land produce 20 per cent more corn, I may withdraw at least a portion of my capital from the most unproductive part of my farm.
DAVID RICARDO

Discover Farm Land Myself Pieces Productive
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 variation in the value of money, however great, makes no difference in the rate of profits.

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The variation in the value of money, however great, makes no difference in the rate of profits.

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