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Profits are not made by differential cleverness, but by differential stupidity.

David Ricardo

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

Commodity exchange Increase Production 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
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

Creation Expression Opinion Subject Understand Wealth
The demand for money is regulated entirely by its value, and its value by its quantity.
DAVID RICARDO

Demand Quantity 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
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
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
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
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
Called an inquiry into the laws which determine the division of the produce.
DAVID RICARDO

Determination Division Law Production
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
The price of corn will naturally rise with the difficulty of producing the last portions of it.
DAVID RICARDO

Natural Portion Price
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
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
The variation in the value of money, however great, makes no difference in the rate of profits.
DAVID RICARDO

Greatness Money Profit Rate 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

Profits are not made by differential cleverness, but by differential stupidity.

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Profits are not made by differential cleverness, but by differential stupidity.

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Popular Authors

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