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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

Whenever the current of money is forcibly stopped, and when money is prevented from settling at its just level, there are no limits to the possible variations of the exchange.
DAVID RICARDO

Current exchange Money Prevent Variation
Called an inquiry into the laws which determine the division of the produce.
DAVID RICARDO

Determination Division Law Production
Utility then is not the measure of exchangeable value, although it is absolutely essential to it.
DAVID RICARDO

Essential exchange Measurement 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
If a commodity were in no way useful, – in other words, if it could in no way contribute to our gratification, – it would be destitute of exchangeable value, however scarce it might be, or whatever quantity of labour might be necessary to procure it.
DAVID RICARDO

Commodity Contribute exchange Necessary Quantity Scarce Way
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
No extension of foreign trade will immediately increase the amount of value in a country, although it will very powerfully contribute to increase the mass of commodities and therefore the sum of enjoyments.
DAVID RICARDO

Commodity Enjoyment Increase Trade 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
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.
DAVID RICARDO

Absolute Production Quantity Rate Requirement
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
The variation in the value of money, however great, makes no difference in the rate of profits.
DAVID RICARDO

Greatness Money Profit Rate 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
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

Money Reason Rise Wage Willing
Profits are not made by differential cleverness, but by differential stupidity.
DAVID RICARDO

Clever Different Profit Stupidity
Profits might also increase, because improvements might take place in agriculture, or in the implements of husbandry, which would augment the produce with the same cost of production.
DAVID RICARDO

Agriculture Husband Improvement Profit
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

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.

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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.

Related Topics

Popular Authors

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