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

David Ricardo

For price is everywhere regulated by the return obtained by this last portion of capital, for which no rent whatever is paid.
DAVID RICARDO

Capital Pay Portion Price
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
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
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
There is no way of keeping profits up but by keeping wages down.
DAVID RICARDO

Profit Wage Way Yourself
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
Profits are not made by differential cleverness, but by differential stupidity.
DAVID RICARDO

Clever Different Profit Stupidity
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
The exchangeable value of all commodities rises as the difficulties of their production increase.
DAVID RICARDO

Commodity exchange Increase Production Value
Taxation under every form presents but a choice of evils.
DAVID RICARDO

Choice Evil Option
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
Gold and silver are no doubt subject to fluctuations, from the discovery of new and more abundant mines; but such discoveries are rare, and their effects, though powerful, are limited to periods of comparatively short duration.
DAVID RICARDO

Discover Doubt Fluctuation Gold Limitation Powerful Rare Silver Subject
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
Rent is the portion of the earth, which is paid to the landlord for the user of the original and indestructible powers of the soil
DAVID RICARDO

Earth Original Paid Rent Soil
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
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

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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