• "There Is no Way of Keeping Profits Up but by Keeping Wages Down". David Ricardo

     

    Essays2 Politics

Author:
Evaluation:
Published: 24.05.2004.
Language: English
Level: Secondary school
Literature: n/a
References: Not used
  • Essays '"There Is no Way of Keeping Profits Up but by Keeping Wages Down". David Ricardo', 1.
  • Essays '"There Is no Way of Keeping Profits Up but by Keeping Wages Down". David Ricardo', 2.
  • Essays '"There Is no Way of Keeping Profits Up but by Keeping Wages Down". David Ricardo', 3.
Extract

There is no way of keeping profits up but by keeping wages down.
-- David Ricardo, On Protection to Agriculture (1820)
This essay seeks to go one step further in the context of David Ricardo's quote by arguing that totalitarian political systems offer a way of keeping profits up by keeping wages down and inversely, in a democratic system wages will have a tendency to rise and thus, profits will decline.
When looking at David Ricardo's quote within the context of both totalitarian and democratic political systems, two assumptions have been made. …

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