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Front Page arrow Titles (by Subject) arrow 181.: malthus to ricardo1[Reply to 179.—Answered by 182] - The Works and Correspondence of David Ricardo, Vol. 7 Letters 1816-1818

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181.: malthus to ricardo1[Reply to 179.—Answered by 182] - David Ricardo, The Works and Correspondence of David Ricardo, Vol. 7 Letters 1816-1818 [1816]

Edition used:

The Works and Correspondence of David Ricardo, ed. Piero Sraffa with the Collaboration of M.H. Dobb (Indianapolis: Liberty Fund, 2005). Vol. 7 Letters 1816-1818.

Part of: The Works and Correspondence of David Ricardo, 11 vols (Sraffa ed.)

About Liberty Fund:

Liberty Fund, Inc. is a private, educational foundation established to encourage the study of the ideal of a society of free and responsible individuals.


181.

malthus to ricardo1
[Reply to 179.—Answered by 182]

My dear Sir

I am sorry it so happens that I cannot contrive to be in Town the end of this week, or I should have great pleasure in meeting you. Cannot you manage to make up for the disappointment and come down to us on saturday. You will have nothing to do in Town on saturday evening and sunday at this empty time of the year, and you will give Mrs. Malthus and myself great pleasure.

I am very glad to hear that you like upon the whole your Oxford boat. If you can manage it tolerably well with sculls by yourself, it is of no great importance in a lake that you should not be able to get on quite so fast as in a smaller boat, and its superior safety is certainly an important consideration.

I cannot guess how soon my new volume may come out after the edition of the old work. I must see first how soon the edition is completed.

I am sorry to find that you are hopeless about our agreeing on the subject of labour profits &c. I had some idea that we were approaching, as it appeared to me that by allowing that profits depend upon the demand and supply of labour, you in fact allow that they depend upon competition.

Will it not be true in all cases that rent will depend upon the demand compared with the supply of good land, wages on the demand compared with the supply of labour, and profits on the demand compared with the supply of capital.

By an increased demand for capital I always mean, such prices of commodities compared with the expences of production as will yield increased profits.

If under any facility of production, an increase of capital faster than the increase of labour will lower profits, can it possibly be said that profits depend on facility of production and that the throwing poor land out of cultivation must necessarily raise them.

I am anxious to see your new ideas on the subject of price and value,—but I am interrupted by the postman.

Ever truly Yours

T R Malthus

[1 ]Addressed: ‘D. Ricardo Esqr. / Stock Exchange. / London’. MS in R.P.