David Ricardo：On the Principles of Political Economy and Taxation, Excerpt 22

According as capital is rapidly perishable, and requires to be frequently reproduced, or is of slow consumption, it is classed under the heads of circulating, or of fixed capital. A brewer, whose buildings and machinery are valuable and durable, is said to employ a large portion of fixed capital: on the contrary, a shoemaker, whose capital is chiefly employed in the payment of wages, which are expended on food and clothing, commodities more perishable than buildings and machinery, is said to employ a large proportion of his capital as circulating capital.

Source： https://www.gutenberg.org/ebooks/33310
Locator：Excerpt 22 · Verified：2026-10-19 · Verification：Short excerpt

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