David Ricardo

it is differently estimated by different persons

value in use cannot be measured by any known standard

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.

It has been my endeavour to show in this work that a fall of wages would have no other effect than to raise profits.

The price of corn will naturally rise with the difficulty of producing the last portions of it,...

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.

The opinions that the price of commodities depends solely on the proportion of supply and demand, or demand to supply, has become almost an axiom in political economy, and has been the source of much error in that science.

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.

" for price is everywhere regulated by the return obtained by this last portion of capital, for which no rent whatever is paid.

A BOUNTY on the exportation of corn tends to lower its price to the foreign consumer, but it has no permanent effect on its price in the home market.

If a tax on malt would raise the price of beer, a tax on bread must raise the price of bread.

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.

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.

The demand for money is regulated entirely by its value, and its value by its quantity.

There can be no greater error then in supposing that capital is increased by non-consumption.

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?

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.

Every transaction in commerce is an independent transaction.

If capital freely flowed towards those countries where it could be most profitably employed, there could be no difference in the rate of profit, and no other difference in the real or labour price of commodities

by increasing the general mass of productions, it diffuses general benefit, and binds together, by one common tie of interest and intercourse, the universal society of nations throughout the civilized world.

Under a system of perfectly free commerce, each country naturally devotes its capital and labour to such employments as are most beneficial to each.

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.

The farmer and manufacturer can no more live without profit than the labourer without wages.

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, …