Principles of Political Economy
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In our eReader you can find the full English version of the book. Read Principles 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 Principles of Political Economy
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The money serves the banker no useful purpose until he passes it to some one else, perhaps a customer. Every one into whose hands it falls must be paying or losing interest on it while he keeps it, and he can- not gain the interest until he purchases an ownership in some form of actual capital.
As a general rule it will not pass through many hands until IV. 47.] THE FUNCTIONS OF TIIE CAPITALIST. 397 it is employed in hiring laborers to build a Louse or factory, or to do some other kind of work ...necessary to the increase of capital. Hence, so far as the employment of labor is concerned, expenditure by investment gives the same kind of employ- ment as any other kind of expenditure, and thus forms no exception to the rule laid down. But if we consider the ulterior effects of this mode of expenditure as compared with that of purchasing commodities for one's own consumption, we shall find that, although the immediate effect is the same, the ultimate effect upon the prosperity of society is very different.
What to read after Principles of Political Economy?
You can find similar books in the "Read Also" column, or choose other free books by Newcomb Simon to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
The money serves the banker no useful purpose until he passes it to some one else, perhaps a customer. Every one into whose hands it falls must be paying or losing interest on it while he keeps it, and he can- not gain the interest until he purchases an ownership in some form of actual capital.
As a general rule it will not pass through many hands until IV. 47.] THE FUNCTIONS OF TIIE CAPITALIST. 397 it is employed in hiring laborers to build a Louse or factory, or to do some other kind of work ...necessary to the increase of capital. Hence, so far as the employment of labor is concerned, expenditure by investment gives the same kind of employ- ment as any other kind of expenditure, and thus forms no exception to the rule laid down. But if we consider the ulterior effects of this mode of expenditure as compared with that of purchasing commodities for one's own consumption, we shall find that, although the immediate effect is the same, the ultimate effect upon the prosperity of society is very different.
What to read after Principles of Political Economy?
You can find similar books in the "Read Also" column, or choose other free books by Newcomb Simon to read onlineMoreLess
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