Economic Studies

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Longmans, Green & Company, 1880 - Economics - 215 pages
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Page 99 - The member of parliament who supports every proposal for strengthening this monopoly, is sure to acquire not only the reputation of understanding trade, but great popularity and influence with an order of men whose numbers and wealth render them of great importance. If he opposes them, on the contrary, and still more if he has authority enough to be able to thwart them, neither the most acknowledged probity, nor the highest rank, nor the greatest public services can protect him from the most infamous...
Page 98 - To expect, indeed, that the freedom of trade should ever be entirely restored in Great Britain, is as absurd as to expect that an Oceana or Utopia should ever be established in it.
Page 121 - The real price of every thing, what every thing really costs to the man who wants to acquire it, is the toil and trouble of acquiring it.
Page 120 - ... the fertility or barrenness of the mines which happen to be known about the time when such exchanges are made. The discovery of the abundant mines of America reduced in the sixteenth century the value of gold and silver in Europe to about a third of what it had been before. As ifc cost less labour to bring those metals from the mine to the market, so when they were brought thither they could purchase or command less labour...
Page 130 - The actual price at which any commodity is commonly sold is called its market price. It may either be above, or below, or exactly the same with its natural price.
Page 120 - In his ordinary state of health, strength and spirits, in the ordinary degree of his skill and dexterity, he must always lay down the same portion of his ease, his liberty, and his happiness.
Page 120 - Labour alone, therefore, never varying in its own value, is alone the ultimate and real standard by which the value of all commodities can at all times and places be estimated and compared. It is their real price ; money is their nominal price only.
Page 200 - There is perhaps no manufacturer, however rich, who limits his business to the extent that his own funds alone will allow: he has always some portion of this floating capital, increasing or diminishing according to the activity of the demand for his commodities. When the demand for silks increases, and that for cloth diminishes, the clothier does not remove with his capital to the silk trade, but he dismisses some of his workmen, he discontinues his demand for the loan from bankers and...
Page 29 - They in fact include a nearly complete establishment of occupations and trades for enabling them to continue their collective life without assistance from any person or body external to them.
Page 122 - Labour was the first price, the original purchase money that was paid for all things.

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