On The Principles of Political Economy, and TaxationRicardo, David
General
On The Principles of Political Economy, and Taxation
Ricardo, David
Economics
But the same circumstance, namely, the abundance and consequent
cheapness of coals, from whatever cause it may arise, which would make
it necessary to abandon those mines on which there was no rent, or a
very moderate one, would, if there were the same abundance, and
consequent cheapness of raw produce, render it necessary to abandon the
cultivation of those lands for which either no rent was paid, or a very
moderate one. If, for example, potatoes should become the general and
common food of the people, as rice is in some countries, one fourth, or
one half of the land now in cultivation, would probably be immediately
abandoned; for if, as Adam Smith says, "an acre of potatoes will produce
six thousand weight of solid nourishment, three times the quantity
produced by the acre of wheat," there could not be for a considerable
time such a multiplication of people, as to consume the quantity that
might be raised on the land before employed for the cultivation of
wheat; much land would consequently be abandoned, and rent would fall;
and it would not be till the population had been doubled or trebled,
that the same quantity of land could be in cultivation, and the rent
paid for it as high as before.
Neither would any greater proportion of the gross produce be paid to the
landlord, whether it consisted of potatoes, which would feed three
hundred people, or of wheat, which would feed only one hundred; because,
though the expenses of production would be very much diminished if the
labourer's wages were chiefly regulated by the price of potatoes and not
by the price of wheat, and though therefore the proportion of the whole
gross produce, after paying the labourers, would be greatly increased,
yet no part of that additional proportion would go to rent, but the
whole invariably to profits,--profits being at all times raised as wages
fall, and lowered as wages rise. Whether wheat or potatoes were
cultivated, rent would be governed by the same principle--it would be
always equal to the difference between the quantities of produce
obtained with equal capitals, either on the same land or on land of
different qualities; and therefore, while lands of the same quality
were cultivated, and there was no alteration in their relative fertility
or advantages, rent would always bear the same proportion to the gross
produce.
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