Famous quote by David Ricardo

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It is not by the absolute quantity of produce obtained by either class, that we can correctly judge of the rate of profi
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"It is not by the absolute quantity of produce obtained by either class, that we can correctly judge of the rate of profit, rent, and wages, but by the quantity of labour required to obtain that produce"

- David Ricardo

About this Quote

This quote by David Ricardo is describing the partnership between the quantity of produce obtained by a class and also the price of earnings, rental fee, and salaries. He is recommending that it is not the absolute quantity of fruit and vegetables obtained by either class that is the most important factor in determining the rate of revenue, rent, and also salaries, but instead the amount of work required to acquire that fruit and vegetables. This means that the amount of labour made use of to produce a certain quantity of fruit and vegetables is more crucial than the quantity of produce itself. This is due to the fact that the amount of labour utilized to produce a particular quantity of fruit and vegetables is a measure of the amount of effort and sources that have entered into creating it, as well as a result the quantity of earnings, lease, and wages that must be spent for it. For that reason, Ricardo is suggesting that the rate of profit, rent, and earnings ought to be figured out by the amount of work required to get a certain amount of fruit and vegetables, as opposed to the outright amount of fruit and vegetables gotten by either course.

About the Author

United Kingdom Flag This quote is written / told by David Ricardo between April 18, 1772 and September 11, 1823. He/she was a famous Economist from United Kingdom. The author also have 26 other quotes.

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