“The price of corn will naturally rise with the difficulty of producing the last portions of it,…”

— David Ricardo

Source: The Principles of Political Economy and Taxation (1821) (Third Edition), Chapter XXXII, Malthus on Rent, p. 276

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David Ricardo 37

British political economist, broker and politician 1772–1823

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“for price is everywhere regulated by the return obtained by this last portion of capital, for which no rent whatever is paid.”

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“If I discover a manure which will enable me to make a piece of land produce 20 per cent more corn, I may withdraw at least a portion of my capital from the most unproductive part of my farm.”

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“A BOUNTY on the exportation of corn tends to lower its price to the foreign consumer, but it has no permanent effect on its price in the home market.”

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“Where the army is, prices are high; when prices rise the wealth of the people is exhausted.”

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“The proposition of Mr. Ricardo, which states that a rise in the price of labour lowers the price of a large class of commodities, has undoubtedly a very paradoxical air; but it is, nevertheless, true, and the appearance of paradox would vanish, if it were stated more naturally and correctly.”

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“The difficulty lies, not in finding a producer, but in finding a consumer.”

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“A light wind swept over the corn; and all nature laughed in the sunshine.”

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“There has been a great difficulty in getting anything into the heads of this generation. It has been like splitting hemlock knots with a corn-dodger for a wedge and a pumpkin for a beetle.”

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“The price of corn will naturally rise with the difficulty of producing the last portions of it,…”

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