投资 · 西方古典
大卫·李嘉图：政治经济学及赋税原理·摘录 138
大卫·李嘉图《政治经济学及赋税原理》· On the Principles of Political Economy and Taxation · 投资
I must again observe, that the rate of profits would fall much more rapidly than I have estimated in my calculation: for the value of the produce being what I have stated it under the circumstances supposed, the value of the farmer's stock would be greatly increased from its necessarily consisting of many of the commodities which had risen in value. Before corn could rise from 4_l._ to 12_l._ his capital would probably be doubled in exchangeable value, and be worth 6000_l._ instead of 3000_l._ If then his profit were 180_l._, or 6 per cent. on his original capital, profits would not at that time be really at a higher _rate_ than 3 per cent.; for 6000_l._ at 3 per cent. gives 180_l._; and on those terms only could a new farmer with 6000_l._ money in his pocket enter into the farming business.
出处：
https://www.gutenberg.org/ebooks/33310
定位：Excerpt 138 · 核对日期：2026-10-19 · 核验：短摘录
白话
李嘉图再次强调：实际利润下降比估算更快。因为农场主资本由许多涨价商品组成，谷物从4镑涨到12镑时，资本交换价值可能翻倍，从3000镑变6000镑。若利润180镑，对原资本是6%，但对现资本6000镑只有3%。新农场主带6000镑入行，也只能得3%。核心：计算利润率要按资本现价，而非原价；资本品涨价会拉低实际利润率。
上下文
李嘉图在《政治经济学及赋税原理》中修正利润率计算，考虑资本品价值上涨的影响。
今日一问
你计算投资回报时，是否考虑了投入资本本身价值的变化？
公版作品；原文逐字取自 Project Gutenberg，仅摘录段落并附全书链接。
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