In the same manner if any nation wasted part of its wealth, or lost part of its trade, it could not retain the same quantity of circulating medium which it before possessed.

I have endeavoured to show that the ability to pay taxes depends, not on the gross money value of the mass of commodities, nor on the net money value of the revenue of capitalists and landlords, but on the money value of each man's revenue compared to the money value of the commodities which he usually consumes.

Utility then is not the measure of exchangeable value, although it is absolutely essential to it.

Labour, like all other things which are purchased and sold... has its natural and its market price.

A rise in wages, from an alteration in the value of money, produces a general effect on price, and for that reason it produces no real effect whatever on profits.

The factors left out of the Ricardian equation are falling wages and idle capacity.

There can be no greater error then in supposing that capital is increased by non-consumption.