Essays On Some Unsettled Questions of Political Economy
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In our eReader you can find the full English version of the book. Read Essays On Some Unsettled Questions 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 Essays On Some Unsettled Questions of Political Economy
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A quantity of corn, the means of producing which could not previously have been secured butat an expense of 120 quarters, can now be produced by means which 100quarters are sufficient to purchase.
But the labourer is supposed to receive the same quantity of corn asbefore. He receives one quarter. The cost of production of wages has, therefore, fallen one-sixth. A quarter of corn, which is theremuneration of a single labourer, is indeed the produce of the samequantity of labour as before; but it...s cost of production is neverthelessdiminished. It is now the produce of 10/18 of a man's labour, andnothing else; whereas formerly it required for its production theconjunction of that quantity of labour with an expenditure, in the formof reimbursement of profit, amounting to one-fifth more.
If the cost of production of wages had remained the same as before, profits could not have risen. Each labourer received one quarter ofcorn; but one quarter of corn at that time was the result of the samecost of production, as 1 1/5 quarter now.
What to read after Essays On Some Unsettled Questions of Political Economy?
You can find similar books in the "Read Also" column, or choose other free books by Mill, John Stuart, 1806-1873 to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
A quantity of corn, the means of producing which could not previously have been secured butat an expense of 120 quarters, can now be produced by means which 100quarters are sufficient to purchase.
But the labourer is supposed to receive the same quantity of corn asbefore. He receives one quarter. The cost of production of wages has, therefore, fallen one-sixth. A quarter of corn, which is theremuneration of a single labourer, is indeed the produce of the samequantity of labour as before; but it...s cost of production is neverthelessdiminished. It is now the produce of 10/18 of a man's labour, andnothing else; whereas formerly it required for its production theconjunction of that quantity of labour with an expenditure, in the formof reimbursement of profit, amounting to one-fifth more.
If the cost of production of wages had remained the same as before, profits could not have risen. Each labourer received one quarter ofcorn; but one quarter of corn at that time was the result of the samecost of production, as 1 1/5 quarter now.
What to read after Essays On Some Unsettled Questions of Political Economy?
You can find similar books in the "Read Also" column, or choose other free books by Mill, John Stuart, 1806-1873 to read onlineMoreLess
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