Principles of Plutology

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Williams and Norgate, 1876 - Economics - 206 pages

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Page 168 - What capital does for production, is to afford the shelter, protection, tools and materials which the work requires, and to feed and otherwise maintain the labourers during the process.
Page 194 - The acquisition of such talents, by the maintenance of the acquirer during his education, study, or apprenticeship, always costs a real expense, which is a capital fixed and realised, as it were, in his person. Those talents, as they make a part of his fortune, so do they likewise of that of the society to which he belongs.
Page 18 - I shall, therefore, in this treatise, when speaking of wealth, understand by it only what is called material wealth, and by productive labor only those kinds of exertion which produce utilities embodied in material objects.
Page 73 - Of the capital engaged in the production of any commodity, there is a part which, after being once used, exists no longer as capital; is no longer capable of rendering service to production, or at least not the same service, nor to the same sort of production.
Page 140 - The difficulty of attainment which determines value, is not always the same kind of difficulty. It sometimes consists in an absolute limitation of the supply. There are things of which it is physically impossible to increase the quantity beyond certain narrow limits.
Page 196 - Capital which in this manner fulfils the whole of its office in the production in which it is engaged, by a single use, is called Circulating Capital.
Page 2 - The object of Political Economy is to point out the means by which the industry of man may be rendered most productive of those necessaries, comforts, and enjoyments, which constitute wealth; to ascertain the proportions in which this wealth is divided among the different classes of the community ; and the mode in which it may be most advantageously consumed.
Page 160 - ... is taken, cannot, in their extreme instances be clearly discriminated from those which lie without. Some equivocal example is then taken, and the framer of the definition is challenged to say in which category it is to be placed. Now it seems to me that an objection of this kind ignores the inevitable conditions under which a scientific nomenclature is constructed, alike in political economy and in all the positive sciences. In such sciences, nomenclature, and therefore definition, is based on...
Page 140 - ... consists only in the labour and expense requisite to produce the commodity. Without a certain labour and expense it cannot be had ; but when any one is willing to incur these there needs be no limit to the multiplication of the product. If there were labourers enough and machinery enough, cottons, woollens, or linens might be produced by thousands of yards for every single yard now manufactured.
Page 29 - There is, for example, one large class of social phenomena in which the immediately determining causes are principally those which act through the desire of wealth, and in which the psychological law mainly concerned is the familiar one that a greater gain is preferred to a smaller.

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