David Ricardo Quotes

A collection of quotes by David Ricardo.

David Ricardo (1772-1823) was a prominent British economist and one of the most influential figures in the development of classical economics. Born in London to a wealthy Jewish family, Ricardo began his career as a stockbroker but soon turned his attention to economic theory. He made significant contributions to the understanding of international trade, particularly through his theory of comparative advantage, which argued that countries should specialize in producing goods in which they have a lower opportunity cost compared to others. Ricardo's works, including "Principles of Political Economy and Taxation," continue to shape economic thought and policy to this day.

The opinions that the price of commodities depends solely on

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.

Science

After all the fertile land in the immediate neighbourhood of

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.

Food

Adam Smith, and other able writers to whom I have alluded, n

Adam Smith, and other able writers to whom I have alluded, not having viewed correctly the principles of rent, have, it appears to me, overlooked many important truths, which can only be discovered after the subject of rent is thoroughly understood.

Truth Principles

There can be no rise in the value of labour without a fall o

There can be no rise in the value of labour without a fall of profits.

Finance

The facility of obtaining food is beneficial in two ways to

The facility of obtaining food is beneficial in two ways to the owners of capital, it at the same time raises profits and increases the amount of consumable commodities.

Food

Nothingever happened on this globe, for good, at which some

Nothingever happened on this globe, for good, at which some people did not have their fill of laughter in the onset; and knowing that such as these would be blind anyway, he thought it quite as well that they should wrinkle up their eyes in grins, as have a malady in the less attractive forms.

Charles Dickens

Dad

Gold and silver, like other commodities, have an intrinsic v

Gold and silver, like other commodities, have an intrinsic value, which is not arbitrary, but is dependent on their scarcity, the quantity of labour bestowed in procuring them, and the value of the capital employed in the mines which produce them.

Finance