A Quote by David Ricardo
If the quantity of labour realized in commodities, regulate their exchangeable value, every increase of the quantity of labour must augment the value of that commodity on which it is exercised, as every diminution must lower it.
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The value of any commodity, therefore, to the person who possesses it, and who means not to use or consume it himself, but to exchange it for other commodities, is equal to the quantity of labour which it enables him to purchase or command. Labour, therefore, is the real measure of the exchangeable value of all commodities. The real price of everything, what everything really costs to the man who wants to acquire it, is the toil and trouble of acquiring it.
Possessing utility, commodities derive their exchangeable value from two sources: from their scarcity, and from the quantity of labour required to obtain them.
Gold and silver, like other commodities, have an intrinsic value, which is not arbitrary, but is dependent on their scarcity, the quantity of labour bestowed in procuring them, and the value of the capital employed in the mines which produce them.
If a commodity were in no way useful, - in other words, if it could in no way contribute to our gratification, - it would be destitute of exchangeable value, however scarce it might be, or whatever quantity of labour might be necessary to procure it.
LABOUR, like all other things which are purchased and sold, and which may be increased or diminished in quantity, has its natural and its market price. The natural price of labour is that price which is necessary to enable the labourers, on with another, to subsist and to perpetuate their race, without either increase or diminution.
Value is the life-giving power of anything; cost, the quantity of labour required to produce it; its price, the quantity of labourwhich its possessor will take in exchange for it.
Knowledge is like money: to be of value it must circulate, and in circulating it can increase in quantity and, hopefully, in value.
This great increase of the quantity of work which, in consequence of the division of labour, the same number of people are capable of performing, is owing to three different circumstances; first, to the increase of dexterity in every particular workman; secondly, to the saving of the time which is commonly lost in passing from one species of work to another; and lastly, to the invention of a great number of machines which facilitate and abridge labour, and enable one man to do the work of many.
As the revenue of the farmer is realized in raw produce, or in the value of raw produce, he is interested, as well as the landlord, in its high exchangeable value, but a low price of produce may be compensated to him by a great additional quantity.
In stating the principles which regulate exchangeable value and price, we should carefully distinguish between those variations which belong to the commodity itself, and those which are occasioned by a variation in the medium in which value is estimated, or price expressed.
Rather, for all objects and experiences, there is a quantity that has optimum value. Above that quantity, the variable becomes toxic. To fall below that value is to be deprived.
The exchangeable value of all commodities, rises as the difficulties of their production increase.
The exchangeable value of all commodities rises as the difficulties of their production increase.
What made women's labour particularly attractive to the capitalists was not only its lower price but also the greater submissiveness of women. The capitalists speculate on the two following factors: the female worker must be paid as poorly as possible and the competition of female labour must be employed to lower the wages of male workers as much as possible. In the same manner the capitalists use child labour to depress women's wages and the work of machines to depress all human labour.
Be aware that the reward for labour, and quantity of labour, are quite disparate things.
Thus the labour of a manufacture adds, generally, to the value of the materials which he works upon, that of his own maintenance, and of his masters profits. The labour of a menial servant, on the contrary, adds to the value of nothing.
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