David Ricardo：On the Principles of Political Economy and Taxation, Excerpt 141

If, by the introduction of machinery, the generality of the commodities on which revenue was expended fell 20 per cent. in value, I should be enabled to save as effectually as if my revenue had been raised 20 per cent.; but in one case the rate of profits is stationary, in the other it is raised 20 per cent.--If, by the introduction of cheap foreign goods, I can save 20 per cent. from my expenditure, the effect will be precisely the same as if machinery had lowered the expense of their production, but profits would not be raised.

Source： https://www.gutenberg.org/ebooks/33310
Locator：Excerpt 141 · Verified：2026-10-19 · Verification：Short excerpt

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