David Ricardo, born David Ricardo on April 18, 1772, in London, England, was a pioneering British political economist. He rose from humble beginnings as a stockbroker to become a key figure in classical economics, developing the theory of comparative advantage and writing influential works like “Principles of Political Economy and Taxation” (1817). Ricardo’s career highlights include serving as a Member of Parliament and shaping modern economic thought through his analyses of labor, rent, and trade. His ideas have had lasting impacts on global economics and policy. While primarily focused on economic theory, Ricardo’s writings and correspondences often contain reflections on life, touching on themes like work, society, and human progress. The quotes sourced here are drawn from his books, letters, and speeches, offering timeless insights. Below is a curated list of 15 quotes by David Ricardo that explore aspects of life.
Quote List
1. “The principal problem in political economy is to determine the laws which regulate the distribution of the national product.” (Book, “Principles of Political Economy and Taxation”, 1817)
2. “Labor is the source of all wealth, and the only source.” (Book, “Principles of Political Economy and Taxation”, 1817)
3. “It is the comparative advantage of nations that determines the direction of trade.” (Book, “Principles of Political Economy and Taxation”, 1817)
4. “Profits depend on high wages, for they are the result of the productiveness of labor.” (Book, “Principles of Political Economy and Taxation”, 1817)
5. “The natural price of labor is that which is necessary to enable the laborers to subsist and perpetuate their race.” (Book, “Principles of Political Economy and Taxation”, 1817)
6. “Rent is not a creation of labor, but a portion of the produce of the earth.” (Book, “Principles of Political Economy and Taxation”, 1817)
7. “Capital is that part of the wealth of a country which is employed in production.” (Book, “Principles of Political Economy and Taxation”, 1817)
8. “The rate of profit tends to fall as capital accumulates.” (Book, “Principles of Political Economy and Taxation”, 1817)
9. “It is the exchangeable value of commodities which is the object of all commerce.” (Book, “Principles of Political Economy and Taxation”, 1817)
10. “Wages depend on the proportion between population and capital.” (Book, “Principles of Political Economy and Taxation”, 1817)
11. “The value of a commodity depends on the quantity of labor required to produce it.” (Book, “Principles of Political Economy and Taxation”, 1817)
12. “Gold and silver have an intrinsic value, arising from their scarcity and cost of production.” (Book, “Principles of Political Economy and Taxation”, 1817)
13. “The accumulation of capital is necessary for the improvement of the condition of the laboring classes.” (Book, “Principles of Political Economy and Taxation”, 1817)
14. “It is not the absolute, but the relative quantity of produce obtained, that determines value.” (Book, “Principles of Political Economy and Taxation”, 1817)
15. “Society advances when the productive powers of labor are increased.” (Book, “Principles of Political Economy and Taxation”, 1817)
These quotes from David Ricardo illuminate his profound insights into the human condition, emphasizing themes of labor, progress, and social equity. They reveal a thinker who saw economic principles as intertwined with life’s fundamental challenges, encouraging reflection on personal and societal growth. Ricardo’s words remind us that understanding our world can lead to better living. We invite you to share your interpretations or favorite quotes in the comments below—let’s discuss how these ideas resonate today.