Principles of Political Economy: With Some of Their Applications to Social Philosophy, Volume 1

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Longmans, Green, and Company, 1904 - Economics - 591 pages
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Contents

Advantages of the large system of production in manufactures 81 2 Advantages and disadvantages of the jointstock principle
84
Of the Law of the Increase of Labour 1 The law of the increase of production depends on those of three elements Labour Capital and Land
96
Consequences of the foregoing Laws 1 Remedies when the limit to production is the weakness of the principle of accumulation 117 2 Necessity of re...
117
BOOK II
123
Chapter Of Property
140
The produce sometimes shared among three classes
145
Chapter XIHT Tlie Remedies for Low Wages further
148
Of Slavery
151
Difference between English and Continental opinions respecting peasant properties 155 2 Evidence respecting peasant properties in Switzerland 156 ...
167
The institution of property implies freedom of acquisition by con
169
Nature of the metayer system and its varieties
183
BOOK III
184
Nature and operation of cottier tenure 193 2 In an overpeopled country its necessary consequence is nominal rents 195 3 which are inconsistent with...
196
Pernicious direction of public opinion on the subject of population 225 2 Grounds for expecting improvement
227
Of the Differences of Wages in different
233
EXCHANGE
264
a Minimum
274
Ultimate Analysis of Cost of Production 1 Principal element in Cost of ProductionQuantity of Labour 277 2 Wages not an element in Cost of Produc...
278
Employments
282
The theory of Value recapitulated in a series of propositions 290 2 How modified by the case of labourers cultivating for subsistence 292 3 by the ca...
298

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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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