The Economics of Distribution
The Economics of Distribution
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In our eReader you can find the full English version of the book. Read The Economics of Distribution 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 The Economics of Distribution
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667.
136 THE ECONOMICS OF DISTRIBUTION.
return after paying its necessary interest, i. E. He cannot profitably utilise any more. It therefore appears that the last increment of the goods he handles in his business yields no earnings of management. Therefore earnings of management form no element in expenses of production or of price.
Or take the case of an agriculturist in a country where there is plenty of available land of a given quality at a fixed or customary rent. The produce raised by su...ch a man upon the few acres he first rents may yield him, after pa3dng the stipulated rent, a large surplus which he will take as wages. Let this labourer increase the acreage he rents; beyond a certain point he will find that the pro- portion of the produce obtained by each successive application of more land, which is left for wages, becomes less and less, until he reaches an applica- tion which, after paying rent, does not increase the net surplus which he takes as wages. In other words, the produce obtained by this marginal application of land to labour "pays" no wage.
What to read after The Economics of Distribution?
You can find similar books in the "Read Also" column, or choose other free books by J a John Atkinson Hobson to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
667.
136 THE ECONOMICS OF DISTRIBUTION.
return after paying its necessary interest, i. E. He cannot profitably utilise any more. It therefore appears that the last increment of the goods he handles in his business yields no earnings of management. Therefore earnings of management form no element in expenses of production or of price.
Or take the case of an agriculturist in a country where there is plenty of available land of a given quality at a fixed or customary rent. The produce raised by su...ch a man upon the few acres he first rents may yield him, after pa3dng the stipulated rent, a large surplus which he will take as wages. Let this labourer increase the acreage he rents; beyond a certain point he will find that the pro- portion of the produce obtained by each successive application of more land, which is left for wages, becomes less and less, until he reaches an applica- tion which, after paying rent, does not increase the net surplus which he takes as wages. In other words, the produce obtained by this marginal application of land to labour "pays" no wage.
What to read after The Economics of Distribution?
You can find similar books in the "Read Also" column, or choose other free books by J a John Atkinson Hobson to read onlineMoreLess
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