Principles of the Economic Philosophy of Society Government And Industry
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So long as old industries, pursued in the old way, continue to be a means of certain livelihood to those engaged in them, the tendency of employers will be to meet that declining rate of profit, which attends the long-continued employment of capital in any one direction, by cutting down wages, rents, and interest.
But this is to substitute parsimony, or meanness, for enterprise and migration. The interests of the woi'ld forbid it. A commercial crisis, sweeping all values away like a whirlwind, ...by making failure universal, prevents it from being mortifying or pax^alyzing.
CBI8ES STEER TOWARD PROFITS. 397 All couductors of industry and employers of labor, whose position is weak, ai*e weeded out and must look for " something new." In the universal search for "something new" those new industries are found and developed, in which society is chiefly interested because in tliem lie eventually the great profits and the great utilities. The crisis of 1816-19 in the South turned capital into the production of cotton, resulting in 1846, according to Dr.
What to read after Principles of the Economic Philosophy of Society Government And Industry?
You can find similar books in the "Read Also" column, or choose other free books by Van Buren Denslow to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
So long as old industries, pursued in the old way, continue to be a means of certain livelihood to those engaged in them, the tendency of employers will be to meet that declining rate of profit, which attends the long-continued employment of capital in any one direction, by cutting down wages, rents, and interest.
But this is to substitute parsimony, or meanness, for enterprise and migration. The interests of the woi'ld forbid it. A commercial crisis, sweeping all values away like a whirlwind, ...by making failure universal, prevents it from being mortifying or pax^alyzing.
CBI8ES STEER TOWARD PROFITS. 397 All couductors of industry and employers of labor, whose position is weak, ai*e weeded out and must look for " something new." In the universal search for "something new" those new industries are found and developed, in which society is chiefly interested because in tliem lie eventually the great profits and the great utilities. The crisis of 1816-19 in the South turned capital into the production of cotton, resulting in 1846, according to Dr.
What to read after Principles of the Economic Philosophy of Society Government And Industry?
You can find similar books in the "Read Also" column, or choose other free books by Van Buren Denslow to read onlineMoreLess
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