Political Economy: An Inquiry Into the Natural Grounds of Right to Vendible Property, Or Wealth
The author, 1829 - Economics - 398 pages
What people are saying - Write a review
We haven't found any reviews in the usual places.
Other editions - View all
Common terms and phrases
able accumulated acquire advantage allowed already amount appear applied arise better capital cause chap chapter circumstances classes commodities condition consequence considerable considered consume continue corn cost course cultivation demand desire distinct distribution Dr Smith effects employed employment enjoy equal established exchange existence extent fall give given greater hands happen human immediately important improvement increase individual industry interest labour land laws least less live lower maintain Malthus mankind manner means measure namely natural necessarily necessary never object observed original paid particular perhaps period persons political population portion possession present principle procure produce profit proper proportion proprietors purchase quantity question reason regard rent saving says share society sort sufficient supply supposed thing tion trade wages wealth Wealth of Nations whole
Page 156 - By necessaries I understand, not only the commodities which are indispensably necessary for the support of life, but whatever the custom of the country renders it indecent for creditable people, even of the lowest order, to be without.
Page 77 - But if they had all wrought separately and independently and without any of them having been educated to this peculiar business, they certainly could not each of them have made twenty, perhaps not one pin in a day...
Page 23 - THERE IS ONE SORT of labour which adds to the value of the subject upon which it is bestowed: there is another which has no such effect.
Page 203 - Equal quantities of labour, at all times and places, may be said to be of equal value to the labourer. 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 11 - ... value in exchange ; and on the contrary, those which have the greatest value in exchange have frequently little or no value in use. Nothing is more useful than water: but it will purchase scarce anything; scarce anything can be had in exchange for it.
Page 315 - THE whole of the advantages and disadvantages of the different employments of labour and stock must, in the same neighbourhood, be either perfectly equal or continually tending to equality.
Page 10 - the word Value has two different meanings, and sometimes expresses the utility of some particular object, and sometimes the power of purchasing other goods which the possession of that object conveys. The one may be called value in use; the other value in exchange.
Page 235 - The natural price, therefore, is, as it were, the central price, to which the prices of all commodities are continually gravitating. Different accidents may sometimes keep them suspended a good deal above it, and sometimes force them down even somewhat below it. But whatever may be the obstacles which hinder them from settling in this center of repose and continuance, they are constantly tending towards it.
Page 76 - ... make twenty. But in the way in which this business is now carried on, not only the whole work is a peculiar trade, but it is divided into a number of branches, of which the greater part are likewise peculiar trades.
Page 74 - Secondly, the advantage which is gained by saving the time commonly lost in passing from one sort of work to another, is much greater than we should at first view be apt to imagine it. It is impossible to pass very quickly from one kind of work to another; that is carried on in a different place, and with quite different tools.