An Introduction to the Study of Political Economy

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Macmillan and Company, 1893 - Economics - 587 pages

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Page 154 - Bill of Exchange, which the borrower drew on a fictitious person at Amsterdam, or any foreign . town, at the then current rate of exchange, which he delivered to the lender. At maturity, the Bill was returned protested from Amsterdam, and the borrower charged with re-exchange and incidental expenses ; and in this way twenty or thirty per cent, was made, the bill never having been out of the country.
Page 211 - Thus about the close of the seventeenth and the beginning of the eighteenth century there was an officially designated frontier line for New England.
Page 362 - Thus, all degrees of fitness are produced, and from these varying degrees comes our perception of the law of the survival of the fittest in the struggle for existence.
Page iii - An Introduction to the Study of Political Economy By LUIGI COSSA, Professor in the Royal University of Pavia. Revised by the author, and translated from the Italian by Louis Dyer, MA, Balliol College.
Page 91 - J'imprime pour moi — will do well not to multiply mathematical technicalities beyond the indispensable minimum, which we have seen reason to suppose is not very large. The parsimony of symbols, which is often an elegance in the physicist, is a necessity for the economist.
Page 204 - Davenant, An Essay upon the Probable Means of Making a People Gainers in the Balance of Trade (1698), in The Political and Commercial Works of Charles Davenant LL.D., ed.
Page 74 - ... applied to it follows the law of decreasing returns ; (ii) that population constantly tends to multiply faster than the means of subsistence can be increased. Beyond these axioms we have clearly enunciated the postulates (i) : That the leading motive of human economic action is that which prompts to seek the greatest gain in return for the least possible expenditure of effort, sacrifice, and risk ; (ii) that freedom of competition exists ; (iii) that a sufficient knowledge of the market and intellectual...
Page 128 - The economic ideas of the ancient peoples of the East which may be gathered from their sacred books, have but a slight interest from the point of view of modern science. They can all be reduced to a few moral precepts. Commerce and arts were, as a rule, despised in comparison with agriculture.
Page 209 - They could not !"ass and see that it was just as important to have it circulate ment freely and quickly as to have much of it. They considered that the balance of trade, and the balance of debits and credits, were convertible ; and it therefore never dawned upon them that a nation might go on for a long time importing goods of greater value than those it exported without the least danger of exhausting its store of the precious metals in the process. Their impenetrability in this respect...

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