black
grey
blue
red
brown
white

The factors left out of the Ricardian equation are falling wages and idle capacity.

David Ricardo

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
Taxation under every form presents but a choice of evils.
DAVID RICARDO

Choice Evil Option
Profits are not made by differential cleverness, but by differential stupidity.
DAVID RICARDO

Clever Different Profit Stupidity
The wheat bought by a farmer to sow is comparatively a fixed capital to the wheat purchased by a baker to make into loaves.
DAVID RICARDO

Capital Farmer Purchase
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
There can be no greater error then in supposing that capital is increased by non-consumption.
DAVID RICARDO

Consumption Errors Greatness Increase
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
Nothing contributes so much to the prosperity and happiness of a country as high profits.
DAVID RICARDO

Contribute Country Happiness Prosperity
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
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
It is here we come to the heart of the matter. The economic principle of comparative advantage’, ‘a country may, in return for manufactured commodities, import corn even if it can be grown with less labour than in the country from which it is imported.
DAVID RICARDO

Advantage Economics Growth Heart Import Manufacture Principle
The factors left out of the Ricardian equation are falling wages and idle capacity.
DAVID RICARDO

Capacity Equation Factor
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
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
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

Greatness Honesty Mindset Powerful Thinking

The factors left out of the Ricardian equation are falling wages and idle capacity.

Related Topics

Popular Authors

The factors left out of the Ricardian equation are falling wages and idle capacity.

Related Topics

Popular Authors

More David Ricardo Quotes