Free Exchange: Papers on Political and Economical Subjects Including Chapters on the Law of Value and Unearned Increment

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K. Paul, Trench, Trübner & Company, Limited, 1891 - Bimetallism - 356 pages
 

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Page 31 - The name which ought to be, and will be, associated with the success of these measures, is the name of one who, acting, I believe, from pure and disinterested motives, has, with untiring energy, made appeals to our reason, and has enforced...
Page xiv - The conclusion to which I am ever more clearly coming is that the only hope of attaining a true system of Economics is to fling aside once and for ever the mazy and preposterous assumptions of the Ricardian school.
Page 235 - Almost every speculation respecting the economical interests of a society thus constituted, implies some theory of Value: the smallest error on that subject infects with corresponding error all our other conclusions; and anything vague or misty in our conception of it, creates confusion and uncertainty in everything else.
Page 236 - The real price of every thing, what every thing really costs to the man who wants to acquire it, is the toil and trouble of acquiring it.
Page 234 - ... exchange is not the fundamental law of the distribution of the produce, no more than roads and carriages are the essential laws of motion, but merely a part of the machinery for effecting it. To confound these ideas, seems to me, not only a logical, but a practical blunder.
Page 237 - That this is really the foundation of the exchangeable value of all things, excepting those which cannot be increased by human industry, is a doctrine of the utmost importance in Political Economy...
Page 294 - But there is reason to suspect that while private possession of things produced by labour, will grow even more definite and sacred than at present ; the inhabited area, which cannot be produced by labour, will eventually be distinguished as something which may not be privately possessed. As the individual, primitively owner of himself, partially or wholly loses ownership of himself during the militant regime, but gradually resumes it as the industrial regime develops ; so, possibly, the communal...
Page 237 - Labour was the first price, the original purchase-money that was paid for all things. It was not by gold or by silver, but by labour, that all the wealth of the world was originally purchased; and its value, to those who possess it, and who want to exchange it for some new productions, is precisely equal to the quantity of labour which it can enable them to purchase or command.
Page 306 - Rent is that portion of the produce of the earth, which is paid to the landlord for the use of the original and indestructible powers of the soil.
Page 345 - With these limitations of the terms, wages not only depend on the relative amount of Capital and population, but cannot, under the rule of competition, be affected by anything else. Wages (meaning, of course, the general rate) cannot rise but by an increase of the aggregate funds employed in hiring labourers, or a diminution in the number of competitors for hire; nor fall, except either by a diminution of the funds devoted to paying labour, or by an increase in the number of labourers to be paid.

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