"There can be no rise in the value of labour without a fall of profits"
About this Quote
The intent is analytic, not sentimental. Ricardo is arguing against the idea that higher wages can be absorbed painlessly by business. In his classical framework, profits are the fuel for investment; squeeze them and you slow accumulation. That’s why the quote doubles as a political warning. It speaks to factory owners terrified of wage pressure, and to reformers who imagine wages can rise without rearranging power.
The subtext is sharper: “labour” is treated as a commodity whose value moves like grain. That rhetorical move does ideological work, making distributional struggle sound like a natural law rather than a contest over institutions, bargaining power, and policy. Even his certainty has a tell: it’s a model of a particular world, one where productivity is taken as given and where wages rise mainly because necessities get more expensive (Ricardo’s “iron” logic about subsistence).
Read now, it’s less prophecy than diagnostic: whenever real wages climb, we argue over who pays - margins, prices, productivity, or the wealthy through taxation. Ricardo’s sentence endures because it names the fight hiding behind polite economics.
Quote Details
| Topic | Wealth |
|---|---|
| Source | Principles of Political Economy and Taxation, David Ricardo, 1817. |
| Cite |
Citation Formats
APA Style (7th ed.)
Ricardo, David. (2026, January 15). There can be no rise in the value of labour without a fall of profits. FixQuotes. https://fixquotes.com/quotes/there-can-be-no-rise-in-the-value-of-labour-57878/
Chicago Style
Ricardo, David. "There can be no rise in the value of labour without a fall of profits." FixQuotes. January 15, 2026. https://fixquotes.com/quotes/there-can-be-no-rise-in-the-value-of-labour-57878/.
MLA Style (9th ed.)
"There can be no rise in the value of labour without a fall of profits." FixQuotes, 15 Jan. 2026, https://fixquotes.com/quotes/there-can-be-no-rise-in-the-value-of-labour-57878/. Accessed 21 Feb. 2026.





