I am convinced that the substitution of a simple tax on the rent of land for the complicated taxes which at present oppress industry would be advantageous to all classes.
In international trade, a country should specialize in the production of goods for which it has a comparative advantage, and trade with other nations to maximize overall economic welfare.
The natural price of labor is that price which is necessary to enable the laborers, one with another, to subsist and to perpetuate their race, without either increase or diminution.
Every improvement in the circumstances of the society tends either directly or indirectly to raise the real rent of land, to increase the real wealth of the landlord, his power of purchasing the labour, or the produce of the labour of other people.
The value of a commodity, or the quantity of any other commodity for which it will exchange, depends on the relative quantity of labor which is necessary for its production, and not on the greater or less compensation which is paid for that labor.
The improvement of the productive powers of labor, and the greater part of the skill, dexterity, and judgement with which it is anywhere directed or applied, seem to have been the effects of division of labor.
