David Ricardo：On the Principles of Political Economy and Taxation, Excerpt 261

All the effects which are produced on the profits of stock and the wages of labour, by a rise of rent and a rise of necessaries, in the natural progress of society, and increasing difficulty of production, will be produced by a rise of wages in consequence of taxation; and therefore the enjoyments of the labourer, as well as those of his employers, will be curtailed by the tax; and not by this tax particularly, but by any other which should raise an equal amount.

Source： https://www.gutenberg.org/ebooks/33310
Locator：Excerpt 261 · Verified：2026-10-19 · Verification：Short excerpt

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