Manual of Political Economy

Cover Manual of Political Economy
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People therefore confidently pre- dicted that the machine would be introduced, and that boats would inevitably decline thirty per cent, in price ; but this is too hasty a conclusion. It must be remem- bered, that so great is the rapidity with which this machine works, that a very fe'w of these machines would goon turn out a great many more planks than are re- quired in the construction of all the boats which are built in a year. The demand, therefore, for boats would not be sufficient to keep t...hese machines fully at work.
This would involve considerable loss. In the first place, a inachine, when not at work, must be regarded as capital y 2 BOOK III.
CH. IV.
The cost of production of manu- factures may dimi- nish as tJu supply increases.
I, lustra- tion of this principle from boat- huilding machin- ery.
340 Manual of Political Economy.
BOOK III.
CH. IV.
4 rise in the wages of labour- trs must be compen- sated by a rise in the price of the pro- ducts of their la- benr.
lying idle, and secondly, the men who attend it would be employed irregularly.


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