There can be no rise in the value of labor without a fall of
profits. If the corn is to be divided between the farmer and the
laborer, the larger the proportion that is given to the latter the
less will remain for the former. -from "On Value" Friend to,
colleague of, and influence on the likes of James Mill, Jeremy
Bentham, and Thomas Malthus, revolutionary British writer DAVID
RICARDO (1772-1823) was one of the foundational thinkers of
classical economics, developing theories of rent, wages, profits,
value, and labor that continue to dramatically impact economic
philosophy today. Principles of Political Economy and Taxation,
first published in 1817, is his major work. Here, he introduces the
concept of comparative advantage, explores the impact of taxes,
examines the effects of accumulation of profits and interest,
discusses trade, currency, and banks, and much more. ALSO FROM
COSIMO: Ricardo's Classics of Economics: The High Price of Bullion
and An Essay on Profits British writer DAVID RICARDO (1772-1823)
was one of the foundational thinkers of classical economics,
developing theories of rent, wages, profits, value, and labor that
continue to dramatically impact economic philosophy today.
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