The Theory of Wages And Its Application to the Eight Hours Question And Other La
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. The extra pro- duction resulting from the increase in that agent of production will go to swell the National Divi- dend, and other agents of production will benefit thereby, but that agent itself will have to submit to a lower rate of pay "(Marsh all, bk. Vi. Ch. Ii. 2). By the improvement of communication, land is for all practical purposes rendered more plentiful, and it is in consequence of this that rents fall. Rents once having fallen, it follows that commodities can be produced more che...aply, because a smaller pro- portion of their price has to be allocated to the payment of rent. Improved communication affects the supply of one of the agents of production ; that iv RENT, AND EXPENSES OF PRODUCTION 65 is a sufficient explanation of a change in its remuner- ation. The cause of a fall in rents is thus identified and we must see in the fall of the prices of commodi- ties, not another cause, but an effect of the fall in rents. 31. A passage from Mill, though of course the instance is given by him in another connection, illustrates my meaning.
What to read after The Theory of Wages And Its Application to the Eight Hours Question And Other La?
You can find similar books in the "Read Also" column, or choose other free books by Herbert Metford Thompson to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
. The extra pro- duction resulting from the increase in that agent of production will go to swell the National Divi- dend, and other agents of production will benefit thereby, but that agent itself will have to submit to a lower rate of pay "(Marsh all, bk. Vi. Ch. Ii. 2). By the improvement of communication, land is for all practical purposes rendered more plentiful, and it is in consequence of this that rents fall. Rents once having fallen, it follows that commodities can be produced more che...aply, because a smaller pro- portion of their price has to be allocated to the payment of rent. Improved communication affects the supply of one of the agents of production ; that iv RENT, AND EXPENSES OF PRODUCTION 65 is a sufficient explanation of a change in its remuner- ation. The cause of a fall in rents is thus identified and we must see in the fall of the prices of commodi- ties, not another cause, but an effect of the fall in rents. 31. A passage from Mill, though of course the instance is given by him in another connection, illustrates my meaning.
What to read after The Theory of Wages And Its Application to the Eight Hours Question And Other La?
You can find similar books in the "Read Also" column, or choose other free books by Herbert Metford Thompson to read onlineMoreLess
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