Quote by David Ricardo

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.

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

Summary

This quote asserts that gold and silver hold inherent value, just like other commodities. This value is not based on random factors but rather on their scarcity, the amount of labor required to obtain them, and the capital invested in the mines that extract them. In essence, the quote emphasizes that the value of gold and silver is derived from tangible factors that contribute to their limited availability and the resources used in their extraction.

Topics

Finance

By David Ricardo

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