The book The Postulates of English Political Economy was written by author Bagehot Walter Here you can read free online of The Postulates of English Political Economy book, rate and share your impressions in comments. If you don't know what to write, just answer the question: Why is The Postulates of English Political Economy a good or bad book?
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By capital, then, in this discussion, we mean an aggregate of two unlike sorts of artificial commodities co-operative things which help labour, and re- munerative things which pay for it. The two have this in common, that they are the produce of human labour, but they differ in almost everything else if you judge of them by the visual appearance. Between a loaf of bread and a steam-engine, between a gimlet and a piece of bacon, there looks as if there were really 80 THE POSTULATES OF nothing in... common, except that man manufactured both. But, though the contrast of externalities is so great, the two have a most essential common pro- perty which is that which Political Economy fixes upon; the possible effect of both is to augment human wealth. Labourers work because they want bread ; their work goes farther if they have good tools ; and therefore economists have a common word for both tools and bread. They are both capital, and other similar things are so > too. And here we come across another of the inevit- able verbal difficulties of Political Economy.
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