Economics: Principles and Problems
Thomas Y. Crowell Company, 1926 - 799 páginas
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Economics: Principles and Problems. 2d Ed., Rev. and Reset
Lionel Danforth Edie
Visualização de excertos - 1932
Palavras e frases frequentes
actual advantage agriculture American amount average balance banks become capital cause cent changes Chapter classes combination commodities competition concerns consumers consumption corporation cost demand direct dollars earnings economic effect efficiency excess exchange exports fact factors fall farm Federal Reserve fluctuations forces foreign gain give given gold hand human important income increase individual industry inflation interest investment issue labor land less limited lines living manufacture marginal materials means measure method nature necessary normal notes operation organization period physical population possible practice present price level principle problem production profit purchasing power quantity require result returns rise savings secure social standard supply tend theory tion trade unions United utility volume wage wealth workers
Página 751 - Commission may from time to time designate) will, under honest, efficient and economical management and reasonable expenditures for maintenance of way, structures and equipment, earn an aggregate annual net railway operating income equal, as nearly as may be, to a fair return upon the aggregate value of the railway property of such carriers held for and used in the service of transportation...
Página 146 - ... intends only his own security ; and by directing that industry in such a manner as its produce may be of the greatest value, he intends only his own gain ; and he is in this, as in many other cases, led by an invisible hand to promote an end which was no part of his intention. Nor is it always the worse for the society that it was no part of it. By pursuing his own interest, he frequently promotes that of the society more effectually than when he really intends to promote it.
Página 716 - 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.
Página 730 - Gross income" includes gains, profits, and income derived from salaries, wages, or compensation for personal service, of whatever kind and in whatever form paid, or from professions, vocations, trades, businesses, commerce, or sales, or dealings in property, whether real or personal, growing out of the ownership or use of or interest in such property...
Página 146 - Every individual is continually exerting himself to find out the most advantageous employment for whatever capital he can command. It is his own advantage, indeed, and not that of the society, which he has in view. But the study of his own advantage naturally, or rather necessarily, leads him to prefer that employment which is most advantageous to the society.
Página 146 - By preferring the support of domestic to that of foreign industry, he intends only his own security; and by directing that industry in such a manner as its produce may be of the greatest value, he intends only his own gain, and he is in this, as in many other cases, led by an invisible hand to promote an end which was no part of his intention.
Página 289 - The new rich of the nineteenth century were not brought up to large expenditures, and preferred the power which investment gave them to the pleasures of immediate consumption. In fact, it was precisely the inequality of the distribution of wealth...
Página 351 - The natural price of labour is that price which is necessary to enable the labourers, one with another, to subsist and to perpetuate their race, without either increase or diminution.
Página 387 - The scale of wages paid for similar kinds of work in other industries; (2) The relation between wages and the cost of living...
Página 353 - What, therefore, the wage-labourer appropriates by means of his labour, merely suffices to prolong and reproduce a bare existence. We by no means intend to abolish this personal appropriation of the products of...