First Principles of Political Economy Concisely Presented for the Use of Classe
First Principles of Political Economy Concisely Presented for the Use of Classe
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In our eReader you can find the full English version of the book. Read First Principles of Political Economy Concisely Presented for the Use of Classe 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 First Principles of Political Economy Concisely Presented for the Use of Classe
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CO-OPERATION OF LABOR AND CAPITAL. 39 CHAPTER III.
THE CO-OPERATION OF LABOR AND CAPITAL.
IN 1)he processes of production, Labor and Capital are Partners, Co-ad jutors for a com- mon end, Sharers in a joint result. Each is ne- cessary to the other ; each is helpless without the other. The most stalwart man can produce nothing without food and clothing, tools and materials, the fruit of previous labor, i. E. , capital. Facto- ries filled with ingenious machinery, warehouses full of cotton, store...s of finished goods, capital in whatever form or amount, can do nothing to in- crease itself. Thus labor and capital are the two necessa^ and inseparable factors in the production of wealth.
For their co-operation these elements meet most harmoniously in the same person; that is, when the laborer owns capital enough to employ his own labor. Then one will, one self-interest, controls both, and jealousy is excluded. But this adjust- ment cannot be universal, for three reasons : 1. Capital under the application of labor tends to increase, so that the man soon finds in his hands a surplus, to employ which he must seek another, who has only labor, to work under him.
What to read after First Principles of Political Economy Concisely Presented for the Use of Classe?
You can find similar books in the "Read Also" column, or choose other free books by Aaron Lucius Chapin to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
CO-OPERATION OF LABOR AND CAPITAL. 39 CHAPTER III.
THE CO-OPERATION OF LABOR AND CAPITAL.
IN 1)he processes of production, Labor and Capital are Partners, Co-ad jutors for a com- mon end, Sharers in a joint result. Each is ne- cessary to the other ; each is helpless without the other. The most stalwart man can produce nothing without food and clothing, tools and materials, the fruit of previous labor, i. E. , capital. Facto- ries filled with ingenious machinery, warehouses full of cotton, store...s of finished goods, capital in whatever form or amount, can do nothing to in- crease itself. Thus labor and capital are the two necessa^ and inseparable factors in the production of wealth.
For their co-operation these elements meet most harmoniously in the same person; that is, when the laborer owns capital enough to employ his own labor. Then one will, one self-interest, controls both, and jealousy is excluded. But this adjust- ment cannot be universal, for three reasons : 1. Capital under the application of labor tends to increase, so that the man soon finds in his hands a surplus, to employ which he must seek another, who has only labor, to work under him.
What to read after First Principles of Political Economy Concisely Presented for the Use of Classe?
You can find similar books in the "Read Also" column, or choose other free books by Aaron Lucius Chapin to read onlineMoreLess
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