Political Economy |
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Adam Smith agricultural amount applied bank become bushels capital cause cent circulation coin coinage commodity competition consume consumption cost cultivation degree demand distribution division of labor doctrine duction economical economist effect employer England English enquire entrepreneur equal existing fact force gold greater human income increase individual labor power laboring class land landlord law of rent less loans Lord Overstone manufacturer matter medium of exchange ment metal natural nomic operations owner paid paper money payment perfect competition perhaps persons Political Economy population portion principle product of industry production of wealth Prof profits progressive taxation purchase quantity question rate of interest reason rent respect result revenue secure seigniorage sell silver social society soil subsistence supply suppose taxation tenant theory things tion trade usury wage-fund wages wheat writers
Popular passages
Page 440 - 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 418 - British power supported them during the struggles of the latter part of the eighteenth and the early part of the nineteenth century.
Page 338 - Interest (Sec. 5197). —Any association may take, receive, reserve, and charge on any loan or discount made, or upon any note, bill of exchange, or other evidences of debt, interest at the rate allowed by the laws of the state, territory, or district where the bank is located...
Page 186 - We find it subject to various conditions which are periodically returning ; it revolves apparently in an established cycle. First we find it in a state of quiescence, — next improvement, — growing confidence, — prosperity, — excitement, — overtrading, — convulsion, — pressure, — stagnation, — distress, — ending again in quiescence.
Page 405 - ... the whole state, and makes its effect be felt on all ranks of people. At first, no alteration is perceived ; by degrees the price rises, first of one commodity, then of another ; till the whole at last reaches a just proportion with the new quantity of specie which is in the kingdom.
Page 275 - To him that hath shall be given ; and from him that hath not shall be taken away even that which he hath.
Page 386 - ... in the community, whom the natural course of things progressively enriches, consistently with complete passiveness on their own part. In such a case it would be no violation of the principles on which private property is grounded, if the state should appropriate this increase of wealth, or part of it, as it arises. This would not properly be taking anything from anybody; it would merely be applying an accession of wealth, created by circumstances, to the benefit of society instead of allowing...
Page 292 - Though the manufacturer has his wages advanced to him by his master, he in reality costs him no expense, the value of those wages being generally restored, together with a profit, in the improved value of the subject upon which his labour is bestowed.
Page 310 - The elephant is reckoned the slowest breeder of all known animals, and I have taken some pains to estimate its probable minimum rate of natural increase; it will be safest to assume that it begins breeding when thirty years old: and goes on breeding till ninety years old, bringing forth six young in the interval, and surviving till one hundred years old: if this be so, after a period of from 740 to 750 years there would be nearly nineteen million elephants alive, descended from the first pair.
Page 441 - Smith wrote that the subjects of every state ought to contribute towards the support of 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.