David Ricardo：On the Principles of Political Economy and Taxation, Excerpt 46

The variation in the value of money, however great, makes no difference in the _rate_ of profits; for suppose the goods of the manufacturer to rise from 1000_l._ to 2000_l._, or 100 per cent., if his capital, on which the variations of money have as much effect as on the value of produce, if his machinery, buildings, and stock in trade rise more than 100 per cent., his rate of profits has fallen, and he has a proportionably less quantity of the produce of the labour of the country at his command.

Source： https://www.gutenberg.org/ebooks/33310
Locator：Excerpt 46 · Verified：2026-10-19 · Verification：Short excerpt

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