~ David Ricardo Quotes ~

[MysteRy]

David Ricardo Quotes


An English political economist, often credited with systematising economics, and was one of the most influential of the classical economists, along with Thomas Malthus, Adam Smith, and John Stuart Mill.
David Ricardo (19 April 1772 – 11 September 1823) was an English political economist, often credited with systematising economics, and was one of the most influential of the classical economists, along with Thomas Malthus, Adam Smith, and John Stuart Mill. He was also a member of Parliament, businessman, financier and speculator, who amassed a considerable personal fortune. Perhaps his most important contribution was the law of comparative advantage, a fundamental argument in favour of free trade among countries and of specialisation among individuals.

Here are some famous quotes by David Ricardo.

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

[MysteRy]

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.

[MysteRy]

If a commodity were in no way useful - in other words if it could in no way contribute to our gratification - it would be destitute of exchangeable value however scarce it might be or whatever quantity of labour might be necessary to procure it.