The book The Principles of Political Economy was written by author Henry Sidgwick Here you can read free online of The Principles of 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 Principles of Political Economy a good or bad book?
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At the same time this influence of custom, however irrational it may seem, is yet a motive force which an intelligent pursuer of private interest cannot disregard. For even if such a person were so exception- ally constituted as to derive no immediate satisfaction from social consideration, he could hardly fail to find it useful indi- rectly in various ways. 3. It thus appears that only a part of the great and varied influence of custom can be regarded as a force opposed to competition and whic...h the fuller development of the latter must necessarily diminish. So far as the maintenance of fixed habits of dealing, and rates of remuneration not frequently changed, leads to economy of time and labour, the development of competition has of course no tendency to modify it. So far, again, as custom determines the social -consideration attaching to certain kinds of work, or imposes certain modes of outlay as a condition of obtaining such consideration, its effects should, I conceive, be treated merely as ?
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