The First Six Chapters of the Principles of Political Economy and Taxation of David Ricardo, 1817 |
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180 quarters accumulation of capital Adam Smith additional quantity alteration capital employed cause cent circulating capital circumstances cloth commodities produced comparative consequence consumed DAVID RICARDO deer duce effect employment equal quantities exchangeable value expended farmer fertile land fish fixed and circulating fixed capital food and necessaries gold improvements increase invariable labour bestowed labour necessary labour required landlord less labour less quantity machine machinery manufacturer market price measure of value modities natural price necessary to produce obtain paid paying no rent population portions of capital precisely price of commodities price of corn price of labour productive powers profits of stock proportions of fixed quantity of labour raised rate of profits raw produce regulated relative value rise of wages rise or fall salmon sell supply suppose things tion trade value of commodities value of money variation vary W. J. ASHLEY wages of labour wages rise wealth whilst whole produce
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Page 42 - Corn is not high because a rent is paid, but a rent is paid because corn is high ; and it has been justly observed that no reduction would take place in the price of corn, although landlords should forego the whole of their rent.
Page viii - IN that early and rude state of society which precedes both the accumulation of stock and the appropriation of land, the proportion between the quantities of labour necessary for acquiring different objects seems to be the only circumstance which can afford any rule for exchanging them for one another.
Page 70 - The friends of humanity cannot but wish that in all countries the labouring classes should have a taste for comforts and enjoyments, and that they should be stimulated by all legal means in their exertions to procure them. There cannot be a better security against a superabundant population...
Page 33 - Rent is that portion of the produce of the earth which is paid to the landlord for the use of the original and indestructible powers of the soil.
Page 43 - The capital employed in agriculture, therefore, not only puts into motion a greater quantity of productive labour than any equal capital employed in manufactures ; but in proportion, too, to the quantity of productive labour which it employs, it adds a much greater value to the annual produce of the land and labour of the country, to the real wealth and revenue of its inhabitants.
Page xi - To convince ourselves that this is the real foundation of exchangeable value, let us suppose any improvement to be made in the means of abridging labour in any one of the various processes through which the raw cotton must pass, before the manufactured stockings come to the market, to be exchanged for other things; and observe the effects which will follow. If fewer men were required to cultivate the raw cotton, or if fewer sailors were employed in navigating, or shipwrights in constructing the ship,...
Page 19 - There can be no rise in the value of labour without a fall of profits. If the corn is to be divided between the farmer and the labourer, the larger the proportion that is given to the latter, the less will remain for the former. So, if...
Page 39 - ... rent invariably proceeds *? from the employment of an additional quantity of labour , with a proportionally less return. The most fertile, and most favourably situated, land will be first cultivated, and the exchangeable value of its produce will be adjusted in the same manner as the exchangeable value of all other commodities, by the total quantity of labour necessary in various forms from first to last, to produce it, and bring it to market.