This work defines value in terms of the absolute quantity of labor required to produce the value, rather than the monetary expenditure which is required to purchase the labor. One section of this work, which discusses charging duties on things other than raw produce, puts forth the idea that being in debt does not place a nation at a disadvantage in its dealings with other nations. One of the most important conclusions of this book is that land rent rises as the general population of the land increases, which this book discusses in terms of corn prices. One idea contained in this book states that it has no effect on demand whether governments expend money using taxation or loans. This book also puts for the idea that it's the most beneficial when those who can produce a certain good cheaply produce exclusively that, leading to trade. For 10 points, name this book which outlines the theor
This work defines value in terms of the absolute quantity of labor required to produce the value, rather than the monetary expenditure which is required to purchase the labor. One section of this work, which discusses charging duties on things other than raw produce, puts forth the idea that being in debt does not place a nation at a disadvantage in its dealings with other nations. One of the most important conclusions of this book is that land rent rises as the general population of the land increases, which this book discusses in terms of corn prices. One idea contained in this book states that it has no effect on demand whether governments expend money using taxation or loans. This book also puts for the idea that it's the most beneficial when those who can produce a certain good cheaply produce exclusively that, leading to trade. For 10 points, name this book which outlines the theory of comparative advantage, written by David Ricardo.
This work defines value in terms of the absolute quantity of labor required to produce the value, rather than the monetary expenditure which is required to purchase the labor.
On the {Principles} of {Political Economy} and Taxation