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 More Quotes by David Ricardo More Quotes From David Ricardo Taxation under every form presents but a choice of evils. David Ricardo taxation choices evil The last point for consideration is the supposed disposition of the people to interfere with the rights of property. So essential does it appear to me, to the cause of good government, that the rights of property should be held sacred, that I would agree to deprive those of the elective franchise against whom it could justly be alleged that they considered it their interest to invade them. David Ricardo government wisdom rights 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 rate hundred interest If a tax on malt would raise the price of beer, a tax on bread must raise the price of bread. David Ricardo malt bread beer Experience, however, shows that neither a state nor a bank ever have [sic] had the unrestricted power of issuing paper money without abusing that power; in all states, therefore, the issue of paper money ought to be under some check and control; and none seems so proper for that purpose as that of subjecting the issuers of paper money to the obligation of paying their notes either in gold coin or bullion. David Ricardo issues purpose gold 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 wealth trade lost The price of corn will naturally rise with the difficulty of producing the last portions of it. David Ricardo corn difficulty lasts 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 portions soil earth 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 powerful doubt discovery I have endeavoured to show that the ability to pay taxes depends, not on the gross money value of the mass of commodities, nor on the net money value of the revenue of capitalists and landlords, but on the money value of each man's revenue compared to the money value of the commodities which he usually consumes. David Ricardo commodity pay men If I discover a manure which will enable me to make a piece of land produce 20 per cent more corn, I may withdraw at least a portion of my capital from the most unproductive part of my farm. David Ricardo pieces land may 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 would-be might way But it is clear that the price of labour has no necessary connection with the price of food, since it depends entirely on the supply of labourers compared with the demand. David Ricardo clear demand connections ...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 honesty powerful thinking Called an inquiry into the laws which determine the division of the produce. David Ricardo inquiry division law It appears to me that one great cause of our difference in opinion on subjects which we often discuss is that you have always in mind the immediate and temporary effects of particular changes, whereas I put these effects quite aside, and fix my whole attention on the long-term effects that will result from them. David Ricardo differences mind long LABOUR, like all other things which are purchased and sold, and which may be increased or diminished in quantity, has its natural and its market price. The natural price of labour is that price which is necessary to enable the labourers, on with another, to subsist and to perpetuate their race, without either increase or diminution. David Ricardo race natural may As the revenue of the farmer is realized in raw produce, or in the value of raw produce, he is interested, as well as the landlord, in its high exchangeable value, but a low price of produce may be compensated to him by a great additional quantity. David Ricardo produce may lows 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 luxury wages fall Gold, on the contrary, though of little use compared with air or water, will exchange for a great quantity of other goods. David Ricardo gold air water
