Political Economy

Hatchard and Son, 1842 - 297 Seiten

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Seite 3 - If among a nation of hunters, for example, it usually costs twice the labour to kill a beaver which it does to kill a deer, one beaver should naturally exchange for or be worth two deer. It is natural that what is usually the produce of two days...
Seite 233 - The natural price of labour is that price which is necessary to enable the labourers, one with another, to subsist and to perpetuate their race, without either increase or diminution.
Seite 43 - I apprehend, be correct for me to say that rent and wages had fallen while profits had risen; for if we had an invariable standard by which to measure the value of this produce we should find that a less value had fallen to the class of labourers and landlords, and a greater to the class of capitalists, than had been given before.
Seite 59 - The estimation in which different qualities of labour are held comes soon to be adjusted in the market with sufficient precision for all practical purposes, and depends much on the comparative skill of the labourer and intensity of the labour performed. The scale, when once formed, is liable to little variation. If a day's labour of a working jeweller be more valuable than a day's labour of a common labourer, it has long ago been adjusted and placed in its proper position in the scale of value.
Seite 3 - That this is really the foundation of the exchangeable 1 [" Wealth of Nations," Bk. 1. v. 12 b.] V> * [Ibid., Bk. 1. v. 13 a.] value of all things, excepting those which cannot be increased by human industry, is a doctrine of the utmost importance in political economy...

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