Outlines and Exercises in EconomicsS.E. Green, 1917 - 137 páginas |
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Outlines and Exercises in Economics (1917) Reuben McKitrick No hay ninguna vista previa disponible - 2009 |
Términos y frases comunes
13th Census advantages agriculture American bank notes Bogart and Thompson Bullock business organization capital Cedar Falls Century Company Chicago commodities Company competitive price concrete illustrations corporation cost of production defined and described definition Discuss Distinguish distribution of wealth duction earner effect employed Engel's Law enterprise exchange expenses of production factors factors of production farm farmer Fetter following selection freedom function Gide Give a brief Give reasons Gresham's law growth Hamilton Haney individual industrial society infant industry argument influence of changes interest Iowa labor land law of diminishing MacMillan manufacturing marginal cost Marginal utility Materials means methods modern monopoly price Moulton Nourse number of persons Outline ownership population present private property problem profits relation relative importance rent respects Seager Seligman specify statement store of value supply and demand Taussig tendencies regarding term tion trade trust United Willis workers
Pasajes populares
Página 38 - By preferring the support of domestic to that of foreign industry, he intends only his own security; and by directing that industry in such a manner as its produce may be of the greatest value, he intends only his own gain, and he is in this, as in many other cases, led by an invisible hand to promote an end which was no part of his intention, v Nor is it always the worse for the society that it was no part of it.
Página 115 - In all tariff legislation the true principle of protection Is best maintained by the imposition of such duties as will equal the difference between the cost of production at home and abroad, together with a reasonable profit to American industries.
Página 37 - What is the species of domestic industry which his capital can employ, and of which the produce is likely to be of the greatest value, every individual, it is evident, can in his local situation judge much better than any statesman or lawgiver can do for him.
Página 37 - ... to render the annual revenue of the society as great as he can. He generally, indeed, neither intends to promote the public interest, nor knows how much he is promoting it. By preferring the support of domestic to that of foreign industry, he intends only his own security; and by directing...
Página 38 - ... led by an invisible hand to promote an end which was no part of his intention. Nor is it always the worse for the society that it was no part of it. By pursuing his own interest he frequently promotes that of the society more effectually than when he really intends to promote it. I have never known much good done by those who affected to trade for the public good.
Página 38 - But it is only for the sake of profit that any man employs a capital in the support of industry ; and he will always, therefore, endeavour to employ it in the support of that industry of which the produce is likely to be of the greatest value, or to exchange for the greatest quantity either of money or of other goods.
Página 38 - The statesman who should attempt to direct private people in what manner they ought to employ their capitals would not only load himself with a most unnecessary attention, but assume an authority which could safely be trusted, not only to no single person, but to no council or senate whatever, and which would nowhere be so dangerous as in the hands of a man who had folly and presumption enough to fancy himself fit to exercise it.
Página 38 - To give the monopoly of the home market to the produce of domestic industry, in any particular art or manufacture, is in some measure to direct private people in what manner they ought to employ their capitals, and must, in almost all cases, be either a useless or a hurtful regulation.
Página 37 - But the annual revenue of every society is always precisely equal to the exchangeable value of the whole annual produce of its industry, or rather is precisely the same thing with that exchangeable value. As every individual, therefore, endeavours, as much as he can, both to employ his capital in the support of domestic industry, and so to direct that industry that its produce may be of the greatest value ; every individual necessarily labours to render the annual revenue of the society as great...
Página 54 - If a man can not make his assets available at pleasure, his assets of capacity and character and resource, what satisfaction is it to him to see opportunity beckoning to him on every hand when others have the keys of credit in their pockets and treat them as all but their own private possession? It is perfectly clear that it is our duty to supply the new banking and currency system the country needs, and it will need it immediately more than it has ever needed it before. The only question is, When...