The demand for money is regulated entirely by its value, and its value by its quantity.
DAVID RICARDOIf English money was of the same value then as before, Hamburgh money must have risen in value. But where is the proof of this?
More David Ricardo Quotes
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Whenever, then, the usual and ordinary rate of the profits of agricultural stock, and all the outgoings belonging to the cultivation of land, are together equal to the value of the whole produce, there can be no rent.
DAVID RICARDO -
The price of corn will naturally rise with the difficulty of producing the last portions of it.
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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.
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There can be no rise in the value of labour without a fall of profits.
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A rise of wages from this cause will, indeed, be invariably accompanied by a rise in the price of commodities; but in such cases, it will be found that labour and all commodities have not varied in regard to each other, and that the variation has been confined to money.
DAVID RICARDO -
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 -
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 -
Gold, on the contrary, though of little use compared with air or water, will exchange for a great quantity of other goods.
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There is no way of keeping profits up but by keeping wages down.
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The exchangeable value of all commodities rises as the difficulties of their production increase.
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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.
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The farmer and manufacturer can no more live without profit than the labourer without wages.
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Nothing contributes so much to the prosperity and happiness of a country as high profits.
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If a tax on malt would raise the price of beer, a tax on bread must raise the price of bread.
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It is not by the absolute quantity of produce obtained by either class, that we can correctly judge of the rate of profit, rent, and wages, but by the quantity of labour required to obtain that produce.
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There can be no greater error then in supposing that capital is increased by non-consumption.
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For price is everywhere regulated by the return obtained by this last portion of capital, for which no rent whatever is paid.
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Taxation under every form presents but a choice of evils.
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The interest of the landlord is always opposed to the interests of every other class in the community.
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The wheat bought by a farmer to sow is comparatively a fixed capital to the wheat purchased by a baker to make into loaves.
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Every transaction in commerce is an independent transaction.
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The factors left out of the Ricardian equation are falling wages and idle capacity.
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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.
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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 -
I wish that I may never think the smiles of the great and powerful a sufficient inducement to turn aside from the straight path of honesty and the convictions of my own mind.
DAVID RICARDO -
Money is neither a material to work upon nor a tool to work with.
DAVID RICARDO