( 29 )
goes to labour decreases, the proportion which goes to profits must increase in the same degree.[1]
Thus if ¾ of the produce, whatever that produce may be, go to labour, ¼ will remain for profits; if 5⁄6 go to labour, 1⁄6 will remain for profits; and if ½ only go to labour, ½ will remain for profits.
In reference to corn or commodities in general, compared with each other at different periods in the progress of cultivation, it is obvious that neither an increase in the quantity of labour required to produce them, nor an increase in the quantity of produce awarded to the labourer, can ever determine the proportion
- ↑ This proposition is essentially the same as that which is very clearly and ably expressed by Mr. Ricardoinhischapteron Profits, (p. 128. 3d ed.) in the following terms: "in all countries and at all times profits depend on the quantity of labour requisite to provide necessaries for the labourers on that land, or with that capital which yields no rent a proposition which though incomplete in reference to the ultimate causes of the variations of profits, contains a most important truth. From this truth the legitimate deduction appears to me to be, the constant value of labour; but Mr. Ricaido has formed his system on a deduction exactly opposite to it. lie has, however, ia my opinion, amply compensated for the errors into which he. may have fallen, by furnishing us, at the same time, not only with the means of their refutation, but the means of improving the science of Political Economy.
