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

Tags: #Gold, #Value, #Quantity, #DavidRicardo, #British, #Economist

Mini who’s who:

David Ricardo : British Economist
Born:  April 18, 1772
Died:  September 11, 1823