"There is no way of keeping profits up but by keeping wages down" (David Ricardo)
Title: "There is no way of keeping profits up but by keeping wages down" (David Ricardo)
Category: /Social Sciences/Politics
Details: Words: 2108 | Pages: 8 (approximately 235 words/page)
"There is no way of keeping profits up but by keeping wages down" (David Ricardo)
Category: /Social Sciences/Politics
Details: Words: 2108 | Pages: 8 (approximately 235 words/page)
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.
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