Coming Reaction: A Brief Survey and Criticism of the Vices of Our Economic System |
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absolutely actually Adam Smith agitation agricultural American amount basis British calicoes capital cent classical Political Economy cloth colonies competition corn laws cotton cultivation Diminishing Returns Dutch commerce duty economic economists Edward IV efficiency eighteenth century England export fact facture foreign free trade further German growth hands Holland human import inevitable John Stuart Mill labour Lancashire land landlord law of Diminishing legislation less linen machinery Malthus Malthus's manu manufacture matter means ment merely Mill modern movement natural Navigation Act navigation laws Neo-Malthusians organised output principle production profits prohibition prosperity protective system purely question raw material restriction result Ricardian theory Ricardo seventeenth simply socialist standard of comfort supply surplus surplus value tariff tariff of 1816 tendency theory of rent tion to-day Trades Unions true Wage-Fund Theory wages whilst whole wool woollen industry words workman
Popular passages
Page 106 - The natural price of labour is that price which is necessary to enable the labourers, one with another, to subsist and to perpetuate their race, without either increase or diminution.
Page 263 - Authority aforesaid, that from and after the twenty-fourth Day of June one thousand seven hundred and fifty, no Mill or other Engine for Slitting or Rolling of Iron, or any Plating forge to work with a Tilt Hammer, or any Furnace for making Steel...
Page 105 - The real price of everything, what everything really costs to the man who wants to acquire it, is the toil and trouble of acquiring it. What everything is really worth to the man who has acquired it, and who wants to dispose of it or exchange it for something else, is the toil and trouble which it can save to himself, and which it can impose upon other people.
Page 18 - In the natural advance of society, the wages of labour will have a tendency to fall, as far as they are regulated by supply and demand; for the supply of labourers will continue to increase at the same rate, whilst the demand for them will increase at a slower rate.
Page 107 - The fate of the labourer will be less happy; he will receive more money wages, it is true, but his corn wages will be reduced; and not only his command of corn, but his general condition will be deteriorated, by his finding it more difficult to maintain the market rate of wages above their natural rate.
Page 77 - Secondly, that the passion between the sexes is necessary, and will remain nearly in its present state. . . . Assuming then, my postulata as granted, I say, that the power of population is indefinitely greater than the power in the earth to produce subsistence for man. Population, when unchecked, increases in a geometrical ratio. Subsistence increases only in an arithmetical ratio.
Page 14 - Every year the demand for servants and labourers would, in all the different clasees of employments, be less than it had been the year before. Many who had been bred in the superior classes, not being able to find employment in their own business, would be glad to seek it in the...
Page 77 - By that law of our nature which makes food necessary to the life of man, the effects of these two unequal powers must be kept equal. This implies a strong and constantly operating check On population from the difficulty of subsistence.
Page 14 - ... employed every year could easily supply, and even more than supply, the number wanted the following year. There could seldom be any scarcity of hands, nor could the masters be obliged to bid against one another in order to get them. The hands, on the contrary, would, in this case, naturally multiply beyond their employment. There would be a constant scarcity of employment, and the labourers would be obliged to bid against one another in order to get it.
Page 13 - The demand for those who live by wages, it is evident, cannot increase but in proportion to the increase of the funds which are destined for the payment of wages.