Encyclopaedia Britannica, 11th Edition, volume 4, Part 4
Encyclopaedia Britannica, 11th Edition, volume 4, Part 4
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In our eReader you can find the full English version of the book. Read Encyclopaedia Britannica, 11th Edition, volume 4, Part 4 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 Encyclopaedia Britannica, 11th Edition, volume 4, Part 4
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He points out that in any organized societythere can hardly be the ready transference of capital from one employmentto another, which is the indispensable condition of free competition; whileclass distinctions render it impossible for labour to transfer itselfreadily to new occupations. Society may thus be regarded as consisting of aseries of non-competing industrial groups, with free competition among themembers of any one group or class. Now the only condition under which costof production wi...ll regulate value is perfect competition. It follows thatthe normal value of commodities--the value which gives to the producers theaverage and usual remuneration--will depend upon cost of production onlywhen the exchange is confined to the members of one class, among whom thereis free competition. In exchange between classes or non-competingindustrial groups, the normal value is simply a case of internationalvalue, and depends upon reciprocal demand, that is to say, is such as willsatisfy the equation of demand.
What to read after Encyclopaedia Britannica, 11th Edition, volume 4, Part 4?
You can find similar books in the "Read Also" column, or choose other free books by Various to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
He points out that in any organized societythere can hardly be the ready transference of capital from one employmentto another, which is the indispensable condition of free competition; whileclass distinctions render it impossible for labour to transfer itselfreadily to new occupations. Society may thus be regarded as consisting of aseries of non-competing industrial groups, with free competition among themembers of any one group or class. Now the only condition under which costof production wi...ll regulate value is perfect competition. It follows thatthe normal value of commodities--the value which gives to the producers theaverage and usual remuneration--will depend upon cost of production onlywhen the exchange is confined to the members of one class, among whom thereis free competition. In exchange between classes or non-competingindustrial groups, the normal value is simply a case of internationalvalue, and depends upon reciprocal demand, that is to say, is such as willsatisfy the equation of demand.
What to read after Encyclopaedia Britannica, 11th Edition, volume 4, Part 4?
You can find similar books in the "Read Also" column, or choose other free books by Various to read onlineMoreLess
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