The Premises of Political Economy; Being a Re-Examination of Certain Fundamental Principles of Economic Science
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In our eReader you can find the full English version of the book. Read The Premises of Political Economy; Being a Re-Examination of Certain Fundamental Principles of Economic Science 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 Premises of Political Economy; Being a Re-Examination of Certain Fundamental Principles of Economic Science
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To quickly assess the difficulty of the text, read a short excerpt:
From this or any other correct method it would be readily seen that the average return for all labor in newly-settled countries is much lower than the average return from those older countries where much use is made of capital to remove the obstacles to cultivation.
In this case most of the land in the country can be tilled, and the advantage of a large population is ob- tained along with an increase of the average return for all labor.
Mill, howevei", asserts that a rise in price of agricul- t...ural produce is of itself sufficient evidence that the average return for labor has diminished, and in his chapter on the increase of production from land he says,— " Now the most elementary truths of political econ- omy show that this (the rise in price of agricultural produce) could not happen, unless the cost of produc- tion, measured in labor, of those products tended to rise. If the application of additional labor to the land was, as a general rule, attended with an increase in the proportional return, the price of produce, instead of rising, must necessarily fall as society advances.
What to read after The Premises of Political Economy; Being a Re-Examination of Certain Fundamental Principles of Economic Science?
You can find similar books in the "Read Also" column, or choose other free books by Simon Nelson Patten to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
From this or any other correct method it would be readily seen that the average return for all labor in newly-settled countries is much lower than the average return from those older countries where much use is made of capital to remove the obstacles to cultivation.
In this case most of the land in the country can be tilled, and the advantage of a large population is ob- tained along with an increase of the average return for all labor.
Mill, howevei", asserts that a rise in price of agricul- t...ural produce is of itself sufficient evidence that the average return for labor has diminished, and in his chapter on the increase of production from land he says,— " Now the most elementary truths of political econ- omy show that this (the rise in price of agricultural produce) could not happen, unless the cost of produc- tion, measured in labor, of those products tended to rise. If the application of additional labor to the land was, as a general rule, attended with an increase in the proportional return, the price of produce, instead of rising, must necessarily fall as society advances.
What to read after The Premises of Political Economy; Being a Re-Examination of Certain Fundamental Principles of Economic Science?
You can find similar books in the "Read Also" column, or choose other free books by Simon Nelson Patten to read onlineMoreLess
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