The Distribution of Income

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Macmillan and Company, limited, 1899 - Distribution (Economic theory) - 341 pages
 

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Page 346 - DAY USE RETURN TO DESK FROM WHICH BORROWED GRADUATE SOCIAL SCIENCE LIBRARY STEPHENS HALL TEL. NO. 642-0370 This publication is due on the LAST DATE and HOUR stamped below. RB 17A-15m-3,'69 (J7295slO)4188 — A-32 General Library University...
Page 330 - ... 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. I have never known much good done by those who affected to trade for the public good.
Page 329 - ... 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.
Page 154 - But in a great house there are not only vessels of gold and of silver, but also of wood and of earth ; and some to honour, and some to dishonour. 21 If a man therefore purge himself from these, he shall be a vessel unto honour, sanctified, and meet for the master's use, and prepared unto every good work.
Page 301 - Corn is not high because a rent is paid, but a rent is paid because corn is high...
Page 319 - ... many more people into those trades than could otherwise pretend to follow them. In all Christian countries, I believe, the education of the greater part of churchmen is paid for in this manner. Very few of them are educated altogether at their own expense.
Page 303 - The exchangeable value of all commodities, whether they be manufactured, or the produce of the mines, or the produce of land, is always regulated, not by the less quantity of labour that will suffice for their production under circumstances highly favourable, and exclusively enjoyed by those who have peculiar facilities of production; but by the greater quantity of labour necessarily bestowed on their production by those who have no such facilities...
Page 114 - The Leaders of Industry, if Industry is ever to be led, are virtually the Captains of the World ; if there be no nobleness in them, there will never be an Aristocracy more.
Page 118 - Chactaw ; till there come something better, still more indomitable from him. His hundred Thousand-pound Notes, if there be nothing other, are to me but as the hundred Scalps in a Chactaw wigwam. The blind Plugson ; he was a Captain of Industry, born member of the Ultimate genuine Aristocracy of this Universe...
Page 286 - ... and enjoying themselves, whether the bargain with the individual workman has been made or not. Very different is the case with the wage-earner. If he refuses the foreman's terms even for a day, he irrevocably loses his whole day's subsistence. If he has absolutely no other resources than his labor, hunger brings him to his knees the very next morning. Even if he has a little hoard, or a couple of rooms full of furniture, he and his family can only exist by the immediate sacrifice of their cherished...

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