The Factors Left Out Of The Ricardian

Labour, Like All Other Things Which Are Purchased And Sold... Has Its Natural And Its Market Price.

It Appears To Me That One Great Cause Of Our Difference In Opinion On Subjects Which We Often Discuss Is That You Have Always In Mind The Immediate And Temporary Effects Of Particular Changes, Whereas I Put These Effects Quite Aside, And Fix My Whole Attention On The Long-term Effects That Will Result From Them.

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.

The Farmer And Manufacturer Can No More Live Without Profit Than The Labourer Without Wages.

The Wheat Bought By A Farmer To Sow Is Comparatively A Fixed Capital To The Wheat Purchased By A Baker To Make Into Loaves.