Background Image
Gold and silver, like other commodities, have an intrinsic value, which is not arbitrary, but is dependent on their scarcity, the quantity of labour bestowed in procuring them, and the value of the capital employed in the mines which produce them.
-David Ricardo
Please Wait....
Translating....

Gold And Silver, Like Other Commodities, Have

David Ricardo
Gold and silver, like other commodities, have an intrinsic value, which is not arbitrary, but is dependent on their scarcity, the quantity of labour bestowed in procuring them, and the value of the capital employed in the mines which produce them.
Views: 4
Cite this Page
Prevent plagiarism by providing proper attribution.
APA FORMAT
Embed this Quote
Copy this HTML code to embed the quote on your website or blog.
HTML CODE
Topic
Gold Arbitrary Scarcity

More From David Ricardo

The available supply of gold and silver being wholly inadequate to permit the issuance of coins of intrinsic value or paper currency convertible into coin of intrinsic value or paper currency convertible into coin in the volume required to serve the needs of the people, some other basis for the issue of currency must be developed, and some means other than that of convertibility into coin must be developed to prevent undue fluctuation in the value of paper currency or any other substitute for money intrinsic value that may come into use.
Mean Issues People
The value of any commodity, therefore, to the person who possesses it, and who means not to use or consume it himself, but to exchange it for other commodities, is equal to the quantity of labour which it enables him to purchase or command. labour, therefore, is the real measure of the exchangeable value of all commodities. the real price of everything, what everything really costs to the man who wants to acquire it, is the toil and trouble of acquiring it.
Real Mean Men
But whilst there may be intrinsic reasons for the scarcity of land, there are no intrinsic reasons for the scarcity of capital.
Land Scarcity May
Possessing utility, commodities derive their exchangeable value from two sources: from their scarcity, and from the quantity of labour required to obtain them.
Two Scarcity Commodity
If anybody has any idea of hoarding our silver coins, let me say this. treasury has a lot of silver on hand, and it can be, and it will be used to keep the price of silver in line with its value in our present silver coin. there will be no profit in holding them out of circulation for the value of their silver content.
Hands Ideas Political
Back in 1960, the paper dollar and the silver dollar both were the same value. they circulated next to each other. today? the paper dollar has lost 95% of its value, while the silver dollar is worth $34, and produced a 2-3 times rise in real value. since we left the gold standard in 1971, both gold and silver have become superior inflation hedges.
Real Gold Dollars
Similar Quotes
The only meaningful contact is one that involves a genuine, giving personal interaction. you may want another person to help you in business, but you must also be willing to help him and to spend time getting to know his interests and needs... it has to be real and heartfelt, or it's best not to try to establish the relationship at all.
Meaningful Real Giving
Behind every myth lies a truth; beyond every legend is reality, as radiant (sometimes as chilling) as the story itself.
Lying Reality Stories
It’s so real." "most dreams are. it isn't until you wake up that you see all the plot holes.
Dream Real Plot
My thesis is that the moral law is articulated with relation to the real as such, to the real insofar as it can be the guarantee of the thing.
Real Law Guarantees

Trending Author

Bruce Jay Friedman
Bruce Jay Friedman
Claude Bernard
Claude Bernard
Stephen Moyer
Stephen Moyer
Stanley Kunitz
Stanley Kunitz
Chuck Grassley
Chuck Grassley
Karl Wilhelm Friedrich Schlegel
Karl Wilhelm Friedrich Schlegel
Category
Information
Inspirational
Philosophy
Personal Growth
Happiness & Joy
Life Lessons
Success & Business
Motivation