Elements of Political Economy
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In our eReader you can find the full English version of the book. Read Elements of Political Economy 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 Elements of Political Economy
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This, however, is returning to the point from which we set out. It is nugatory to include labour in the definition of the word capital, and then to say that, capital without labour, deter- mines exchangeable values. If capital is under- stood in a sense which does not include the purchase money of labour, and hence the labour itself, it is obvious that capital does not regulate the exchange- able value of commodities.
If labour were the sole instrument of production, and capital not required, t...he produce of one day's labour in one commodity would exchange against the produce of one day's labour in another commodity. In the rude state of society, if the hunter and the fisherman desired to vary their food, the one by a portion of game, the other by a portion of fish, the average quantity which they took in a day would form the standard of exchange. If it did not, one of the two would be placed in a more unfavourable situation than his neighbour, with perfect power, which he would of course employ, to pass from the one situation to the other.
What to read after Elements of Political Economy?
You can find similar books in the "Read Also" column, or choose other free books by James Mill to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
This, however, is returning to the point from which we set out. It is nugatory to include labour in the definition of the word capital, and then to say that, capital without labour, deter- mines exchangeable values. If capital is under- stood in a sense which does not include the purchase money of labour, and hence the labour itself, it is obvious that capital does not regulate the exchange- able value of commodities.
If labour were the sole instrument of production, and capital not required, t...he produce of one day's labour in one commodity would exchange against the produce of one day's labour in another commodity. In the rude state of society, if the hunter and the fisherman desired to vary their food, the one by a portion of game, the other by a portion of fish, the average quantity which they took in a day would form the standard of exchange. If it did not, one of the two would be placed in a more unfavourable situation than his neighbour, with perfect power, which he would of course employ, to pass from the one situation to the other.
What to read after Elements of Political Economy?
You can find similar books in the "Read Also" column, or choose other free books by James Mill to read onlineMoreLess
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