David Ricardo：On the Principles of Political Economy and Taxation, Excerpt 138

I must again observe, that the rate of profits would fall much more rapidly than I have estimated in my calculation: for the value of the produce being what I have stated it under the circumstances supposed, the value of the farmer's stock would be greatly increased from its necessarily consisting of many of the commodities which had risen in value. Before corn could rise from 4_l._ to 12_l._ his capital would probably be doubled in exchangeable value, and be worth 6000_l._ instead of 3000_l._ If then his profit were 180_l._, or 6 per cent. on his original capital, profits would not at that time be really at a higher _rate_ than 3 per cent.; for 6000_l._ at 3 per cent. gives 180_l._; and on those terms only could a new farmer with 6000_l._ money in his pocket enter into the farming business.

Source： https://www.gutenberg.org/ebooks/33310
Locator：Excerpt 138 · Verified：2026-10-19 · Verification：Short excerpt

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