Outline of Lectures Upon Political Economy: Prepared for the Use of Students at the Johns Hopkins University, Baltimore, Md., and the University of Michigan, Ann Arbor, Mich

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Press of C.A. Bangs & Company, 1881 - 76 страници

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Страница 33 - By utility is meant that property in any object, whereby it tends to produce benefit, advantage, pleasure, good, or happiness, (all this in the present case comes to the same thing) or (what comes again to the same thing) to prevent the happening of mischief, pain, evil, or unhappiness to the party whose interest is considered...
Страница 10 - 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 36 - The market price of every particular commodity is regulated by the proportion between the quantity which is actually brought to market, and the demand of those who are willing to pay the natural price of the commodity...
Страница 39 - It is a machine for doing quickly and commodiously, what would be done, though less quickly and commodiously, without it : and like many other kinds of machinery, it only exerts a distinct and independent influence of its own when it gets out of order.
Страница 21 - Labour, then, in the physical world, is always and solely employed in putting objects in motion ; the properties of matter, the laws of nature, do the rest.
Страница 10 - Secondly, — -That in a state of society where self-restraint does not act at all, or only acts so little that we need not think of it, population will augment till the poorest class of the community have only just enough to support life.
Страница 13 - ... the method of study which its profitable prosecution imposes. If asked to define political economy, I should say that political economy treats of industrial society. Its purpose as an analytic science is to explain the industrial actions of men. Its purpose as a constructive science is to discover a scientific and rational basis for the formation and government of industrial society.
Страница 36 - ... running through all reasonings which have to do with value and price. It is not, however. necessary to advert to its bearings further at present; these will sufficiently appear in the course of the following discussions. I recapitulate briefly the results of the present chapter: I. Demand and Supply, considered as general facts, are not independent phenomena, but essentially the same phenomena regarded from different points of view; consequently general Demand can not increase or diminish, except...
Страница 13 - JOHN STUART MILL, Principles of Political Economy, with some of their applications to Social Philosophy, first published in 1847. JE CAIRNES. Some Leading Principles of Political Economy Newly Expounded, also Logic of Political Economy. JOSEPH GARNIER, Trailed' Economie Politique, eighth edition, 1880.
Страница 20 - ... pronounce this law of rent and of the increasing sterility of the land brought under cultivation, to be the very corner-stone of the science. " After a certain not very advanced stage in the progress of agriculture ... in any given state of agricultural skill and knowledge . . . every increase of produce is obtained by more than a proportional increase in the application of labor to the land. This general law of agricultural industry is the most important proposition in Political Economy. Were...