It has therefore been justly observed that however honestly… - David Ricardo

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It has therefore been justly observed that however honestly the coin of a country may conform to its standard, money made of gold and silver is still liable to fluctuations in value, not only to accidental, and temporary, but to permanent and natural variations, in the same manner as other commodities.

David Ricardo

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About David Ricardo

David Ricardo (19 April 1772 – 11 September 1823) was an English political economist, often credited with systematizing economics, and was one of the most influential of the classical economists. He was also a member of Parliament, businessman, financier and speculator.

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Henry Hazlitt Jean-Baptiste Say Thomas Robert Malthus Adam Smith Karl Marx

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Neither machines, nor the commodities made by them, rise in real value, but all commodities made by machines fall, and fall in proportion to their durability.

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The opinions that the price of commodities depends solely on the proportion of supply and demand, or demand to supply, has become almost an axiom in political economy, and has been the source of much error in that science.

It has therefore been justly observed that however honestly the coin of a country may conform to its standard, money made of gold and silver is still… - David Ricardo

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