Principles of Social Economics: Inductively Considered and Practically Applied, with Criticisms on Correct Theories |
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Common terms and phrases
Adam Smith agricultural American Economic Association amount bushels capital capitalist cause cents a yard civilization consequently cost of production cotton cloth demand and supply determined diminished doctrine duction economic equivalents economic law economic prices economic surplus effect effort employed equal exchange expensive portion fact factors give gold hence increase individual industrial influences interest labor power laissez faire land law of prices law of wages less machinery manufactured means movement natural forces natural law necessarily necessary no-rent obtain paid phenomena Political Economy price of commodities price of labor Principles of Political profit proportion quantity of labor rate of wages ratio reason reduced relation rent result Ricardo rise or fall sell shoes social progress social wants society Stuart Wood sumer surplus surplus value tends theory things tion tract true value of money variation Wealth of Nations wheat
Popular passages
Page 220 - 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 66 - I shall, therefore, in this treatise, when speaking of wealth, understand by it only what is called material wealth, and by productive labour only those kinds of exertion which produce utilities embodied in material objects. But in limiting myself to this sense of the word, I mean to avail myself...
Page 92 - The word VALUE, it is to be observed, has two different meanings, and sometimes expresses the utility of some particular object, and sometimes the power of purchasing other goods which the possession of that object conveys. The one may be called "value in use"; the other, "value in exchange.
Page 303 - Thus do we find, not only that the analogy between a society and a living creature is borne out to a degree quite unsuspected by those who commonly draw it, but also, that the same definition of life applies to both. This union of many men into one community — this increasing mutual dependence of units which were originally independent — this...
Page 228 - 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. But it is because its price is high or low; a great deal more, or very little more, or no more, than what is sufficient to pay those wages and profit, that it affords a high rent, or a low rent, or no rent at all.
Page 8 - When the children are old enough to shift for themselves, they usually separate, neither one afterwards thinking of the other. At night they sleep under some large tree, the branches of which hang low.
Page 252 - It has been my endeavour to show throughout this work, that the rate of profits can never be increased but by a fall in wages, and that there can be no permanent fall of wages but in consequence of a fall of the necessaries on which wages are expended.
Page 60 - Labour is there so well rewarded, that a numerous family of children, instead of being a burthen, is a source of opulence and prosperity to the parents. The labour of each child, before it can leave their house, is computed to be worth a hundred pounds clear gain to them.
Page 8 - Further towards the north are to be found men living absolutely in a state of nature, who neither cultivate the ground, nor live in huts ; who neither eat rice nor salt, and who do not associate with each other, but rove about some woods, like wild beasts.
Page 59 - I am perfectly aware of the immense progress which your country has made and is making in population and wealth. I know that the laborer with you has large wages, abundant food, and the means of giving some education to his children. But I see no reason for attributing these things to the policy of Jefferson. I see no reason to believe that your progress would have been less rapid, that your...