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activity Adam Smith admit applied attained capital character civilization claim common conduct consideration consumer consumption degradation demand direct distribution duty economic economic rents economists efficiency efforts and satisfactions employer energy enjoyment existence facts forces forms higher human illth implies imposed income increase individual industrial insist intel intellectual interest involves J. S. Mill labour land leisure living Manchesterism material measure ment merely modern monopoly moral motive natural natural law natural right necessary needs Omichund organic physical Political Economy Poor Law population present proportion quantity recognize regarded relations rightly rights of property routine secure sense separate skill social progress social property Social Question social reform social utility society sociology standard supply tion trade true valuation vidual wages waste wealth Wealth of Nations whole workers
Page 178 - The only trades which it seems possible for a joint stock company to carry on successfully without an exclusive privilege are those of which all the operations are capable of being reduced to what is called a Routine, or to such a uniformity of method as admits of little or no variation.
Page 58 - It is vain to speak of the higher authority of a unified social science. No doubt if that existed Economics would gladly find shelter under its wing. But it does not exist; it shows no signs of coming into existence. There is no use in waiting idly for it ; we must do what we can with our present resources.
Page 235 - Now I re-examine philosophies and religions, They may prove well in lecture-rooms, yet not prove at all under the spacious clouds and along the landscape and flowing currents.
Page 7 - Given a number of human beings, with a certain development of physical and mental faculties and of social institutions, in command of given natural resources, how can they best utilize these powers for the attainment of the most complete satisfaction?
Page 72 - It may be objected that the higher motives are so different in quality from the lower, that the one cannot be weighed against the other. There is some validity in this objection. The pain which it would cause an earnest and good man to do deliberately a wrong action, is so great that no pleasure can compensate for it; it cannot be weighed or measured.
Page 141 - This value has been given either by personal labour, or by labour paid for, or by ancestral labour; or else the value given to it in such ways has been purchased by legitimately earned money. / All this value artificially given vests in existing owners, and cannot without a gigantic robbery be taken from them.
Page 141 - ... theoretical form ; we must admit that all which can be claimed for the community is the surface of the country in its original unsubdued state. To all that value given to it by clearing, breaking-up, prolonged culture, fencing, draining, making roads, farm buildings, &c., constituting nearly all its value, the community has no claim.
Page 234 - Thus, with misspent scrupulosity, he squanders his labor on vain trifles, counting every bit of knowledge worth the pains it has cost, because he owns no standard of economy. Man is the measure of all things, and the specialist who has made himself less than a man can measure nothing.
Page 251 - I can do nothing with my income but buy more land, build more houses, and lend money on mortgages." But before the excess goods can be invested they must be sold and turned into money. And there is no way of selling them. For the whole purchasing power of the community has been expended in returning to the owners the entire cost of production in exchange for a portion of the product.
Page 67 - ... it may often be convenient to pursue this course; but do not let us deceive ourselves into believing that we are investigating all the fact and excluding something which is not fact. This is only another instance of the protean fallacy of individualism, which feigns the existence of separate individuals by abstracting and neglecting the social relations which belong to them and make them what they are.