In treating on the subject of the profits of capital, it is necessary to consider the principles which regulate the rise and fall of rent; as rent and profits, it will be seen, have a very intimate connexion with each other.

The principles which regulate rent are briefly stated in the following pages, and differ in a very slight degree from those which have been so fully and so ably developed by Mr Malthus in his late excellent publication. The consideration of those principles, together with those which regulate the profit of stock, have convinced Ricardo of the policy of leaving the importation of corn unrestricted by law. From the general principle set forth in al Mr Malthus's publications, Ricardo holds the same opinion as far as profit and wealth are concerned with the question; — but, viewing, as Malthus does, the danger as formidable of depending on foreign supply for a large portion of the food, Malthus considers it wise, on the whole, to restrict importation. Not participating with Malthus in those fears, and perhaps estimating the advantages of a cheap price of corn at a higher value, Ricardo has come to a different conclusion.

David Ricardo, (born April 18/19, 1772, London, England—died September 11, 1823, Gatcombe Park, Gloucestershire), English economist who gave systematized, classical form to the rising science of economics in the 19th century. His laissez-faire doctrines were typified in his Iron Law of Wages, which stated that all attempts to improve the real income of workers were futile and that wages perforce remained near the subsistence level.