The Theory of International Trade: With Some of Its Applications to Economic PolicyHodges, Figgis & Company, 1887 - 175 страници |
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actual Adam Smith advantage alteration amount applied barter bills bullion Cairnes commodities comparative cost competition cost of carriage cost of production course currency diminishing return distribution doctrine duction economic effect element Encyclopædia Britannica England English equation of indebtedness equation of international established existence export duties fact favourable foreign trade free-trade further gain gold impossible increase industry influence instance international exchange international trade international values J. S. Mill labour and capital law of diminishing laws of value limits manufacturers ment Mill's money-material nation natural necessary obtained operation Political Economy position possible precious metals productive power profit Protectionism protectionist protective duties quantity of money ratio of exchange reciprocal demand reduced regarded result revenue Ricardo scale of prices seigniorage Sidgwick specie-point supposed terms of exchange theory of international tion United value of money wages wealth Wealth of Nations
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Страница 54 - Gold and silver having been chosen for the general medium of circulation, they are, by the competition of commerce, distributed in such proportions amongst the different countries of the world, as to accommodate themselves to the natural traffic which would take place if no such metals existed, and the trade between countries were purely a trade of barter.
Страница 99 - It is not to be understood that the natural price of labour, estimated even in food and necessaries, is absolutely fixed and constant. It varies at different times in the same country, and very materially differs in different countries. It essentially depends on the habits and customs of the people.
Страница 20 - By means of glasses, hotbeds, and hot-walls, very good grapes can be raised- in Scotland, and very good wine too can be made of them at about thirty times the expense for which at least equally good can be brought from foreign countries.
Страница 4 - Rent is that portion of the produce of the earth, which is paid to the landlord for the use of the original and indestructible powers of the soil.
Страница 15 - Two men can both make shoes and hats, and one is superior to the other in both employments ; but in making hats he can only exceed his competitor by one-fifth, or 20 per cent., and in making shoes he can excel him by one-third, or 33 per cent. ; will it not be for the interest of both that the superior man should employ himself exclusively in making shoes, and the inferior man in making hats?
Страница 14 - The real price of everything, what everything really costs to the man who wants to acquire it, is the toil and trouble of acquiring it. What everything is really worth to the man who has acquired it, and who wants to dispose of it or exchange it for something else, is the toil and trouble which it can save to himself, and which it can impose upon other people.
Страница 166 - No EXTENSION of foreign trade will immediately increase the amount of value in a country, although it will very powerfully contribute to increase the mass of commodities, and therefore the sum of enjoyments.
Страница 54 - The natural price, therefore, is, as it were, the central price, to which the prices of all commodities are continually gravitating. Different accidents may sometimes keep them suspended a good deal above it, and sometimes force them down even somewhat below it. But whatever may be the obstacles which hinder them from settling in this center of repose and continuance, they are constantly tending towards it.
Страница 21 - Between whatever places foreign trade is carried on, they all of them derive two distinct benefits from it. It carries out that surplus part of the produce of their land and labour for which there is no demand among them, and brings back in return for it something else for which there is a demand. It gives a value to their superfluities, by exchanging them for something else, which may satisfy a part of their wants, and increase their enjoyments.
Страница 165 - That money is a merchandise, whereof there may be a glut, as well as a scarcity, and that even to an inconvenience. "That a people cannot want money to serve the ordinary dealing, and more than enough they will not have.