David Ricardo：On the Principles of Political Economy and Taxation, Excerpt 306

M. Say, in speaking of the excellences and imperfections of the great work of Adam Smith, imputes to him, as an error, that "he attributes to the labour of man alone the power of producing value. A more correct analysis shews us that value is owing to the action of labour, or rather the industry of man, combined with the action of those agents which nature supplies, and with that of capital. His ignorance of this principle prevented him from establishing the true theory of the influence of machinery in the production of riches."

Source： https://www.gutenberg.org/ebooks/33310
Locator：Excerpt 306 · Verified：2026-10-19 · Verification：Short excerpt

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