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.
More Quotes from David Ricardo:
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.David Ricardo
If we were left to ourselves, unfettered by legislative enactments, we should gradually withdraw our capital from the cultivation of such lands, and import the produce which is at present raised upon them.
David Ricardo
If the demand for home commodities should be diminished, because of the fall of rent on the part of the landlords, it will be increased in a far greater degree by the increased opulence of the commercial classes.
David Ricardo
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
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
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Based on Topics: Capital Quotes, Gold Quotes, Labor Quotes, Quantity Quotes, Silver Quotes, Value QuotesBased on Keywords: bestowed, mines, procuring, scarcity
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