“ There can be no rise in the value of labour without a fall of profits. ”
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.
~ David Ricardo
By far the greatest part of those goods which are the objects of desire, are procured by labour; and they may be multiplied, not in one country alone, but in many, almost without any assignable limit, if we are disposed to bestow the labour necessary to obtain them.
The rise or fall of wages is common to all states of society, whether it be the stationary, the advancing, or the retrograde state.
