David Ricardo：On the Principles of Political Economy and Taxation, Excerpt 16

First, as to the accumulation of capital. Even in that early state to which Adam Smith refers, some capital, though possibly made and accumulated by the hunter himself would be necessary to enable him to kill his game. Without some weapon, neither the beaver nor the deer could be destroyed, and therefore the value of these animals would be regulated, not solely by the time and labour necessary to their destruction, but also by the time and labour necessary for providing the hunter's capital, the weapon, by the aid of which their destruction was effected.

Source： https://www.gutenberg.org/ebooks/33310
Locator：Excerpt 16 · Verified：2026-10-19 · Verification：Short excerpt

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