David Ricardo：On the Principles of Political Economy and Taxation, Excerpt 172

Profits, it cannot be too often repeated, depend on wages; not on nominal, but real wages; not on the number of pounds that may be annually paid to the labourer, but on the number of days' work necessary to obtain those pounds. Wages may therefore be precisely the same in two countries: they may bear too the same proportion to rent, and to the whole produce obtained from the land, although in one of those countries the labourer should receive ten shillings per week, and in the other twelve.

Source： https://www.gutenberg.org/ebooks/33310
Locator：Excerpt 172 · Verified：2026-10-19 · Verification：Short excerpt

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