Principles of Political Economy: With Some of Their Applications to Social Philosophy, Volume 1 (Google eBook)

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Longmans, Green, and Company, 1904 - Economics - 591 pages
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Chapter X Of Profits
Doctrine of Adam Smith on the competition of capital
Abstraction of capital not necessarily a national loss
Chapteb VIK On the Probable Futurity of the Labouring
Profits resolvable into three parts interest insurance and wages
A Tax on all Commodities would fall on profits
Taxes on contracts
Is it desirable to defray extraordinary public expenses by loans?
gl Laws of Inheritance
Law of compulsory equal division of inheritance
Laws of Partnership
Partnerships with limited liability Chartered Companies
Partnerships in commandite
A land tax in some cases not taxation but a rentcharge in favour
Laws relating to insolvency
Doctrine of Protection to Native Industry 652
Usury Laws
Attempts to regulate the prices of commodities
Laws against Combination of Workmen
Restraints on opinion or on its publication
Governmental intervention distinguished into authoritative and unauthoritative
Objections to government interventionthe compulsory character of the intervention itself or of the levy of funds to support it
increase of the power and influence of government
superior efficiency of private agency owing to stronger interest in the work
importance of cultivating habits of collective action in the people
Laisserfaire the general rule 673
Case of persons exercising power over others Protection of chil dren and young persons of the lower animals Case of women not analogous
Case of contracts in perpetuity
Case of acts done for the benefit of others than the persons con cerned Poor Laws 683

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Page 570 - The only case in which, on mere principles of political economy, protecting duties can be defensible, is when they are imposed temporarily (especially in a young and rising nation) in hopes of naturalizing a foreign industry, in itself perfectly suitable to the circumstances of the country.
Page 589 - Now any well-intentioned and tolerably civilized government may think without presumption that it does or ought to possess a degree of cultivation above the average of the community which it rules, and that it should, therefore, be capable of offering better education and better instruction to the people, than the greater number of them would spontaneously select. Education, therefore, is one of those things which it is admissible in principle that a government should provide for the people.
Page 86 - But though they were very poor, and therefore but indifferently accommodated with the necessary machinery, they could, when they exerted themselves, make among them about twelve pounds of pins in a day.
Page 128 - The niggardliness of nature, not the injustice of society, is the cause of the penalty attached to overpopulation. An unjust distribution of wealth does not aggravate the evil, but, at most, causes it to be somewhat earlier felt. It is in vain to say that all mouths which the increase of mankind calls into existence bring with them hands. The new mouths require as much food as the old ones, and the hands do not produce as much.
Page 245 - Compute in any particular place, what is likely to be annually gained, and what is likely to be annually spent, by all the different workmen in any common trade, such as that of shoemakers or weavers, and you will find that the former sum will generally exceed the latter. But make the same computation with regard to all the counsellors and students of law, in all the different inns of court, and you will find that their annual gains bear but a very small proportion to their annual expense, even though...
Page 195 - It could never, however, be the interest even of this last species of cultivators, to lay out, in the further improvement of the land, any part of the little stock which they might save from their own share of the produce, because the lord, who laid out nothing, was to get one half of whatever it produced.
Page 467 - Most fitting, indeed, is it, that while riches are power, and to grow as rich as possible the universal object of ambition, the path to its attainment should be open to all, without favor or partiality.
Page 67 - Capital which in this manner fulfils the whole of its office in the production in which it is engaged, by a single use, is called circulating capital.
Page 243 - Honour makes a great part of the reward of all honourable professions. In point of pecuniary gain, all things considered, they are generally under-recompensed, as I shall endeavour to show by and by.
Page 468 - It is only in the backward countries of the world that increased production is still an important object: in those most advanced, what is economically needed is a better distribution, of which one indispensable means is a stricter restraint on population.

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