Elementary Principles of Economics
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In our eReader you can find the full English version of the book. Read Elementary Principles of Economics Online - link to read the book on full screen. Our eReader also allows you to upload and read Pdf, Txt, ePub and fb2 books. In the Mini eReder on the page below you can quickly view all pages of the book - Read Book Elementary Principles of Economics
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Many things are to-day easily obtainable by the poorest which two centuries ago could be enjoyed only by the most wealthy and powerful. Such things are never thought of as luxuries in modern days, but if their possession in the olden time required the exploitation of the poor and did not render their possessors able and willing to confer great social service in return, we must hold that they were then luxuries. To the illiterate man, a library is a luxiu-y; to the scientist, it may be a necessi...ty for complete efficiency. These illustra- tions may serve to show the difficulty of reaching any simple and clear definition of luxury, and the equally great difficulty of establishing any universal principles by which we may always judge such expenditure. Yet it is possible to lay down a definition which at the same time implies a principle of social economy in expenditure and suggests an ethical pre- cept : Luxury consists in any consumption of commodities and services which is seriously out of proportion to the service that it enables the consumer to return to society, but which is not of necessity directly injurious to the consumer.
What to read after Elementary Principles of Economics?
You can find similar books in the "Read Also" column, or choose other free books by Ely, Richard T. (Richard Theodore), 1854-1943 to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
Many things are to-day easily obtainable by the poorest which two centuries ago could be enjoyed only by the most wealthy and powerful. Such things are never thought of as luxuries in modern days, but if their possession in the olden time required the exploitation of the poor and did not render their possessors able and willing to confer great social service in return, we must hold that they were then luxuries. To the illiterate man, a library is a luxiu-y; to the scientist, it may be a necessi...ty for complete efficiency. These illustra- tions may serve to show the difficulty of reaching any simple and clear definition of luxury, and the equally great difficulty of establishing any universal principles by which we may always judge such expenditure. Yet it is possible to lay down a definition which at the same time implies a principle of social economy in expenditure and suggests an ethical pre- cept : Luxury consists in any consumption of commodities and services which is seriously out of proportion to the service that it enables the consumer to return to society, but which is not of necessity directly injurious to the consumer.
What to read after Elementary Principles of Economics?
You can find similar books in the "Read Also" column, or choose other free books by Ely, Richard T. (Richard Theodore), 1854-1943 to read onlineMoreLess
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