Political Economy for Beginners |
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Page 3
... decrease England's wealth by causing money to be sent from England to France . The fallacies of this policy , which is known as the Mercantile System , were first exposed by Adam Smith in his great book The Wealth of Nations , which was ...
... decrease England's wealth by causing money to be sent from England to France . The fallacies of this policy , which is known as the Mercantile System , were first exposed by Adam Smith in his great book The Wealth of Nations , which was ...
Page 30
... decreases the capital of a country ; for capital is that part of wealth which is set aside to assist future production . But it may be said that the capital of a country is decreased by the persons who manufacture articles of luxury ...
... decreases the capital of a country ; for capital is that part of wealth which is set aside to assist future production . But it may be said that the capital of a country is decreased by the persons who manufacture articles of luxury ...
Page 31
... decreases the capital of the country , and therefore the excuse often made for extravagance , that it is good for trade , is based upon false notions respecting capital . If two tons of coals are consumed in producing a pine - apple in ...
... decreases the capital of the country , and therefore the excuse often made for extravagance , that it is good for trade , is based upon false notions respecting capital . If two tons of coals are consumed in producing a pine - apple in ...
Page 32
... decreases the national capital , or tends to prevent its increase . Almsgiving , therefore , confers no benefit on the labourer comparable with a productive expenditure of wealth , which increases the national capital , and consequently ...
... decreases the national capital , or tends to prevent its increase . Almsgiving , therefore , confers no benefit on the labourer comparable with a productive expenditure of wealth , which increases the national capital , and consequently ...
Page 34
... decreases the amount of cir- culating capital must cause a corresponding decrease in wages . For example , if a manufacturer withdraws circulating capital to the amount of £ 1000 , for the pur- pose of buying machinery , a considerable ...
... decreases the amount of cir- culating capital must cause a corresponding decrease in wages . For example , if a manufacturer withdraws circulating capital to the amount of £ 1000 , for the pur- pose of buying machinery , a considerable ...
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Common terms and phrases
advantage agricultural produce amount Bank Charter Act bank notes Bank of England bills of exchange BOOK capital and labour capitalist causes cent cheques circumstances classes cloth College commodities competition consequently corn cost of production cotton Crown 8vo decrease demand economic economic rent effect employed employment English example exports Extra fcap farmer France FRANCIS TURNER PALGRAVE gold and silver GRAMMAR HISTORY Illustrations income income-tax increased industry instance J. M. D. MEIKLEJOHN King's College School labour and capital land land-tax landlord levied London and Westminster manufactured margin of cultivation modities paid panic permanent poor rate population price of agricultural production of wealth Professor quantity rate of interest rate of profit rate of wages regulated rent School Shew supply taxation Third Edition tion trade value of gold value of money W. W. SKEAT wages and profits wages of labour wages-fund Westminster Bank wheat workmen
Popular passages
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