A Primer of Political Economy An Explanation of Familiar Economic Phenomena Le
A Primer of Political Economy An Explanation of Familiar Economic Phenomena Le
Samuel T Wood
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At the same time the prospect of an abundance of beef has tended to discourage the herdsmen. The young Gaucho on the plains, by turning from one occupation to another, has unconsciously done his share to restore the balance, to pro- duce that which was scarce and lessen the supply of that which was abundant. This shows the working of the law of supply and 5O A Primer of Political Economy demand, a natural law which enables the pro- ductive workers in all parts of the world to contribute toward ...a unity of results, unknown to one another, and without even knowing the results toward which they are aiming. Every excess of goods is checked, and every shortage made good, by the natural tendency of man to seek the most productive lines of industry, to satisfy desires with the least possible exertion. CHAPTER VIII TAXATION WHEN John Doe pays for the boots, he is paying taxes, although, if he has never studied economics, he may be entirely ignorant of the fact. The merchant is required to pay taxes to the city treasury to be expended in keep- ing a fire-protection service, a police force, parks for recreation, schools, and many other things for public use or convenience.
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