First Lessons in Political Economy |
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Adam Smith advantage agricultural amount of labor bank bank-money become better body of laborers business ability capitalists cause cents CHAPTER circulating capital cloth coincidence of wants cost of production cotton crop cultivation debts degree demand diminishing returns distribution of wealth division of labor duced duction economic economic rent economist employers England excess fact force gold Grand Agent greater hand hundred imperfect competition increase industry labor and capital labor power laboring class land less loan machinery manufacture means medium of exchange merchants metals mill million bushels mines nations nature normal value operation owner paid payments perhaps persons political economy political money portion production of wealth profits raise receive rent sell shillings silver soil speaking subsistence supply suppose things thousand dollars tion tobacco trade true wages wants wheat worth
Popular passages
Page 47 - An activity has been here, that has swept away all difficulties before it, and has clothed the very rocks with verdure. It would be a disgrace to common sense to ask the cause; the enjoyment of property must have done it. Give a man the secure possession of a bleak lock, and he will turn it into a garden; give him a nine years' lease of a garden, and he will convert it into a desert.
Page 42 - The gaping chinks admitted every blast; the leaning chimneys had lost half their original height; the rotten rafters were evidently misplaced; while in many instances the thatch, yawning in some parts to admit the wind and wet, and in all utterly unfit for its original purpose of giving protection from the weather, looked more like the top of a dunghill than a cottage.