Papers Relating to Political Economy, Volume 2Royal Economic Society by Macmillan and Company, limited, 1925 - Economics |
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Common terms and phrases
abscissa abstract Adam Smith advantage amount applied Auspitz Bastable ceteris paribus coefficient commodity competition condition constant consumers corresponding cost of production Cournot curve demand demand-curve diminishing discrimination doctrine economic equilibrium ECONOMIC JOURNAL economist effect elasticity employed entrepreneur equal sacrifice equation equilibrium exchange exports formula greater ground landlord ground rent home country houses Ibid imports incidence income increase increment industry international trade J. S. Mill Jevons labour land less marginal marginal utility mathematical maximum Mill Mill's minimum monopolist monopoly obtained occupier owner parties perfect competition Political Economy position Principles of Economics probably Professor Marshall Professor Pigou Professor Seligman profits progressive taxation proportion proposed proposition quantity reasoning reference represented respect scheme sense supply supply-curve supposed surplus taxation theoretically theory tion Town Holdings utilitarian utility Walras writer
Popular passages
Page 152 - Every tax ought to be levied at the time, or in the manner in which it is most likely to be convenient for the contributor to pay it.
Page 368 - Many of the questions both in morals and politics seem to be of the nature of the problems, de maximis et minimis, in fluxions ; in which there is always a point where a certain effect is the greatest, while on either side of this point it gradually diminishes.
Page 362 - The greater part of people, too, understand better what is meant by a quantity of a particular commodity, than by a quantity of labour. The one is a plain, palpable object; the other an abstract notion which, though it can be made sufficiently intelligible, is not altogether so natural and obvious.
Page 85 - If the high price of corn were the effect, and not the cause of rent, price would be proportionally influenced as rents were high or low, and rent would be a component part of price. But that corn which is produced by the greatest quantity of labour is the regulator of the price of corn ; and rent does not and cannot enter in the least degree as a component part of its price*.
Page 104 - It is yet to be ascertained whether the Communistic scheme would be consistent with that multiform development of human nature, those manifold unlikenesses, that diversity of tastes and talents, and variety of intellectual points of view, which not only form a great part of the interest of human life, but by bringing intellects into stimulating collision, and by presenting to each innumerable notions that he would not have conceived of himself, are the mainspring of mental and moral progression.
Page 215 - Suppose that there is a kind of income which constantly tends to increase, without any exertion or sacrifice on the part of the owners ; those owners constituting a class in the community, whom the natural course of things progressively enriches, consistently with complete passiveness on their own part.
Page 482 - You, Dr. Smith, from your professor's chair, may send forth theories upon freedom of commerce as if you were lecturing upon pure mathematics ; but legislators must proceed by slow degrees, impeded as they are in their course by the friction of interest and the friction of prejudice.
Page 486 - They are both products of the same operation, or set of operations, and the outlay is incurred for the sake of both together, not part for one and part for the other. The same outlay would have to be incurred for either of the two, if the other were not wanted or used at all.
Page 115 - ... the difference to the happiness of the possessor between a moderate independence and five times as much, is insignificant when weighed against the enjoyment that might be given, and the permanent benefits diffused, by some other disposal of the four-fifths.
Page 321 - ... to think of an object as desirable (unless for the sake of its consequences), and to think of it as pleasant, are one and the same thing...