Quote of the Day for February 28, 2015

59: From Ricardo, On the Principles of Political Economy and Taxation, Front Matter and Chapter 1:

    According as capital is rapidly perishable, and requires tobe frequently reproduced, or is of slow consumption, it isclassed under the heads of circulating, or of fixed capital.5*A brewer, whose buildings and machinery are valuable and durable,is said to employ a large portion of fixed capital: on thecontrary, a shoemaker, whose capital is chiefly employed in thepayment of wages, which are expended on food and clothing,commodities more perishable than buildings and machinery, is saidto employ a large proportion of his capital as circulatingcapital.

    1.47 (paragraph number)

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