Profits are not made by differential cleverness, but by differential stupidity.

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

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.

Every transaction in commerce is an independent transaction.

The variation in the value of money, however great, makes no difference in the rate of profits.

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.

Adam Smith, and other able writers to whom I have alluded, not having viewed correctly the principles of rent, have, it appears to me, overlooked many important truths, which can only be discovered after the subject of rent is thoroughly understood.