Economics for Upper Grades

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D.C. Heath & Company, 1920 - Economics - 93 pages
 

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Page 55 - Obviously, then, competition really means industrial freedom. Thus, anyone may choose his own trade or profession, or, if he does not like it, he may change. He is free to work hard or not; he may make his own bargains and set his price upon his labor or his products. He is free to acquire property to any extent, or to part with it. By dint of greater effort or superior skill, or by intelligence, if he can make better wages, he is free to live better, just as his neighbor is free to follow his example...
Page 54 - Under this free system of government, whereby individuals are free to get a living or to pursue wealth as each chooses, the usual result is competition. Obviously, then, competition really means industrial freedom. Thus, anyone may choose his own trade or profession, or, if he does not like it, he may change. He is free to work hard or not; he may make his own bargains and set his price upon his labor or his products. He is free to acquire property to any extent, or to part with it. By dint of greater...
Page 82 - The Constitution of the United States gives to Congress the power to enact laws for the regulation of commerce.
Page 55 - ... free to work hard or not; he may make his own bargains and set his price upon his labor or his products. He is free to acquire property to any extent, or to part with it. By dint of greater effort or superior skill, or by intelligence, if he can make better wages, he is free to live better, just as his neighbor is free to follow his example and to learn to excel him in turn. If anyone has a genius, for making and managing money, he is free to exercise his genius, just as another is free to handle...
Page 11 - ... and therefore little wealth. An ignorant people could not have invented the steam engine, neither would they have felt the need for the articles which the steam engine helps to produce.

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