Quote of the Day for April 18, 2015


Birthday of David Ricardo (1772-1823) By most accounts, the birthday of David Ricardo was Apr. 19..
108: From Smith, Wealth of Nations, Book II, Chapter 3:

    The proportion between capital and revenue, therefore, seems every-where to regulate the proportion between industry and idleness. Wherever capital predominates, industry prevails: wherever revenue, idleness. Every increase or diminution of capital, therefore, naturally tends to increase or diminish the real quantity of industry, the number of productive hands, and consequently the exchangeable value of the annual produce of the land and labour of the country, the real wealth and revenue of all its inhabitants.

    II.3.13 (paragraph number)

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