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Adam Smith amount anticipation bank bill bill of exchange buyers capital claim combination commodity compete competition consumer cooperation cost of production custom depends distribution division of labor duction economic organization economic rent economic system efficiency employer enables England exchange expenditure expenses firms fixed fluctuations free enterprise freedom of enterprise give gold Gresham's Law important income increase individual Industrial Revolution influence kind laissez-faire land less limited loan machine machinery manufacture material means measure medium of exchange ment method monopoly nomic output owner paid payment principle profits proportion purchase railway rate of interest rent risks satisfaction secure sell sellers shirt social society specialized speculation standard sumer supply and demand tend theory thing tion trade trade union United United Kingdom usually utility wages wants wealth welfare wool woolen workers
Page 367 - The subjects of every state ought to contribute towards the support of the government, as nearly as possible, in proportion to their respective abilities; that is, in proportion to the revenue which they respectively enjoy under the protection of the state.
Page 103 - 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 424 - For I know that in me (that is, in my flesh) dwelleth no good thing: for to will is present with me; but how to perform that which is good I find not.
Page 21 - The greatest improvement in the productive powers of labour, and the greater part of the skill, dexterity, and judgment with which it is any where directed, or applied, seem to have been the effects of the division of labour.
Page 356 - All systems either of preference or of restraint, therefore, being thus completely taken away, the obvious and simple system of natural liberty establishes itself of its own accord. Every man, as long as he does not violate the laws of justice, is left perfectly free to pursue his own interest his own way, and to bring both his industry and capital into competition with those of any other man or order of men.
Page 248 - But it is not easy to find any accurate measure either of hardship or ingenuity. In exchanging indeed the different productions of different sorts of labour for one another, some allowance is commonly made for both. It is adjusted, however, not by any accurate measure, but by the higgling and bargaining of the market, according to that sort of rough equality which, though not exact, is sufficient for carrying on the business of common life.
Page 334 - Corn is not high because a rent is paid, but a rent is paid because corn is high...
Page 246 - Let us now consider the residue of each of these products; it consists of the same unsubstantial reality in each, a mere congelation of homogeneous human labour, of labour-power expended without regard to the mode of its expenditure.
Page 465 - STANFORD UNIVERSITY LIBRARIES CECIL H. GREEN LIBRARY STANFORD, CALIFORNIA 94305.6004 (415) 723.1493 All books may be recalled after 7 days DATE DUE...