Skip to content

David Ricardo

18 April 1772-11 September 1823

Definition.com

Capital is that part of the wealth of a country which is employed in production, and consists of food, clothing, tools, raw materials, machinery, etc., necessary to give effect to labor.

Definition.com

Exploitation is the sin-qua-non of profit — There is no way of keeping profits up but by keeping wages down.

Definition.com

Labor's natural price is that price which is necessary to enable the laborers, on with another, to subsist and to perpetuate their race, without either increase or diminution.

Definition.com

Luxury tax is the same thing as to raise the item's price. It falls wholly on the consumer and thus can neither increase wages nor lower profits.

Definition.com

Minimum wage is folly — wages should be left to the fair and free competition of the market, and should never be controlled by the interference of the legislature.

Definition.com

Money is neither a material to work upon nor a tool to work with.