David Ricardo：On the Principles of Political Economy and Taxation, Excerpt 64

It is undoubtedly true, that the fall in the relative price of raw produce, in consequence of the improvement in agriculture, or rather in consequence of less labour being bestowed on its production, would naturally lead to increased accumulation; for the profits of stock would be greatly augmented. This accumulation would lead to an increased demand for labour, to higher wages, to an increased population, to a further demand for raw produce, and to an increased cultivation. It is only, however, after the increase in the population, that rent would be as high as before; that is to say, after No. 3 was taken into cultivation. A considerable period would have elapsed, attended with a positive diminution of rent.

Source： https://www.gutenberg.org/ebooks/33310
Locator：Excerpt 64 · Verified：2026-10-19 · Verification：Short excerpt

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