PRINCIPLES OF THE ECONOMIC PHILOSOPHY OF SOCIETY, GOVERNMENT AND INDUSTRY |
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acres Adam Smith aggregate agricultural American amount average Bank of England banks become Bonamy Price bushels capital capitalist cause census cent China coin commodities consumers consumption corn corn laws cost credit money crops cultivation debt decline demand domestic duty earn economic economists effect employed employer England English enterprise equal Europe exchange exports fact farmer farming foreign France free trade gold and silver grains greater Hence human importation increase India industry interest invested iron labor labor power land less loss machinery manufactures means ment millions nature paid payment period persons Political Economy population production profit-maker protection purchase quantity railroad railways rate of profit rates of wages rent reproductive wealth revenue rise Russia says sell share social society supply tariff things tion transportation United Wealth of Nations wheat
Popular passages
Page 359 - Accordingly we find, that, in every kingdom, into which money begins to flow in greater abundance than formerly, everything takes a new face : labour and industry gain life ; the merchant becomes more enterprising, the manufacturer more diligent and skilful, and even the farmer follows his plough with greater alacrity and attention.
Page 79 - Equal quantities of labour, at all times and places, may be said to be of equal value to the labourer. In his ordinary state of health, strength, and spirits ; in the ordinary degree of his skill and dexterity, he must always lay down the same portion of his ease, his liberty, and his happiness.
Page 239 - On the first settling of a country in which there is an abundance of rich and fertile land, a very small proportion of which is required to be cultivated for the support of the actual population, or indeed can be cultivated with the capital which the population can command, there will be no rent...
Page 356 - The substitution of paper in the room of gold and silver money, replaces a very expensive instrument of commerce with one much less costly, and sometimes equally convenient. Circulation comes to be carried on by a new wheel, which it costs less both to erect and to maintain than the old one.
Page 289 - The real price of everything, what everything really costs to the man who wants to acquire it, is the toil and trouble of acquiring it. What everything is really worth to the man who has acquired it, and who wants to dispose of it or exchange it for something else, is the toil and trouble which it can save to himself, and which it can impose upon other people.
Page 9 - When at length a true system of Economics comes to be established, it will be seen that that able but wrong-headed man, David Ricardo, shunted the car of Economic science on to a wrong line, a line, however, on which it was further urged towards confusion by his equally able and wrong-headed admirer John Stuart Mill.
Page 290 - There is unfortunately no mode of expressing by one familiar term, the aggregate of what may be called the wages-fund of a country; and as the wages of productive labour form nearly the whole of that fund, it is usual to overlook the smaller and less important part, and to say that wages depend on population and capital.
Page 239 - 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 457 - 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 126 - THE truth is, and from this truth there can be no escape, that there is and can be no just title to an exclusive possession of the soil, and that private property in land is a bold, bare, enormous wrong, like that of chattel slavery.