Thoughts on a few subjects of political economy. [With]1859 - 54 pages |
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Adam Smith aggregate amount annual applied Bank of England bankers Bastiat bullion circulation circumstances classes commodities consequence considerable consists constitute consumers consumption continue contribute corn corn laws cost dealers demand for labour deposits derived diminution distinct doctrine Dover economists effect employed employment exchange existence expense exportation fall fixed capital foreign fund given greater or less high prices hosiery ignoratio elenchi important increase inquiry J. S. Mill James Mill latter Leone Levi levied likewise loans Lord Overstone maintenance Malthus means millions modities Monsieur Say natural necessary nett produce objects observed obtained occasioned paid paper currency payment Political Economy population portion productive hands profit proportion proportionate wages purchase quantity of labour raise reduced regard remarks rent replaced represent Ricardo saved Sect shillings a day supply supposed term things trade value of gold value of money Wealth of Nations workmen writers
Popular passages
Page 37 - Could we suddenly double the productive powers of the country, we should double the supply of commodities in every market ; but we should, by the same stroke, double the purchasing power. Everybody would bring a double demand as well as supply : everybody would be able to buy twice as much, because every one would have twice as much to offer in exchange.
Page 6 - The subjects of every state ought to contribute towards the support of the government, as nearly as possible, in proportion to their respective abilities ; that is, in proportion to the revenue which they respectively enjoy under the protection of the state.
Page 73 - Rent is that portion of the produce of the earth, which is paid to the landlord for the use of the original and indestructible powers of the soil.
Page 28 - If any one commodity could be found, which now and at all times required precisely the same quantity of labour to produce it, that commodity would be of an unvarying value, and would be eminently useful as a standard by which the variations of other things might be measured.
Page 74 - High or low wages and profit are the causes of high or low price ; high or low rent is the effect of it. It is because high or low wages and profit must be paid, in order to bring a particular commodity to market, that its price is high or low.
Page 86 - The increase of stock, which raises wages-, tends to lower profit. When the stocks of many rich merchants are turned into the same trade, their mutual competition naturally tends to lower its profit; and when there is a like increase of stock in all the different trades carried on in the same society, the same competition must produce the same effect in them all.
Page 36 - Each person's means of paying for the productions of other people consist of those which he himself possesses. All sellers are inevitably and ex vi termini buyers. Could we suddenly double the productive powers of the country, we should double the supply of commodities in every market; but we should, by the same stroke, double the purchasing power. Everybody would...
Page 23 - By what a frugal man annually saves, he not only affords maintenance to an additional number of productive hands, for that or the ensuing year, but, like the founder of a public workhouse, he establishes as it were a perpetual fund for the maintenance of an equal number in all times to come.
Page 16 - The value of the goods circulated between the different dealers, never can exceed the value of those circulated between the dealers and the consumers ; whatever is bought by the dealers, being ultimately destined to be sold to the consumers.
Page 43 - I am required to pay 100/., it will really be a tax on my income, should I be content with the expenditure of the remaining •900/. ; but it will be a tax on capital, if I continue to spend 1000/.