Papers Relating to Political Economy, Volumen1

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Royal Economic Society by Macmillan and Company, limited, 1925 - 1221 páginas

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Página 25 - However, my lady was very charitable in her own way. She had a charity school for poor children, where they were taught to read and write gratis, and where they were kept well to spinning gratis for my lady in return...
Página 48 - By what a frugal man annually saves, he not only affords maintenance to an additional number of productive hands, for that or the ensuing year, but, like the founder of a public workhouse, he establishes as it were a perpetual fund for the maintenance of an equal number in all times to come.
Página 137 - Among those who would suffer by the new regime there would be [included] ... the abstract economists, who would be deprived of their occupation, the investigation of the conditions which determine value. There would survive only the empirical school, flourishing in a chaos congenial to their mentality.31 We seem, however, to have found another alternative, that of becoming amateur lawyers.
Página 40 - ... of motion — a problem of dynamics. But it would surely be absurd to attempt the more difficult question when the more easy one is yet so imperfectly within our power. It is only as a purely statical problem that I can venture to treat the action of exchange. Holders of commodities will be regarded not as continuously passing on these commodities in streams of trade, but as possessing certain fixed amounts which they exchange until they come to equilibrium.
Página 298 - Edgoworth, which seems conclusive on the subject. 3. Practically the Committee would recommend the use of a weighted index-number of some kind, as, on the whole, commanding more confidence. But they feel bound to point out that the scientific evidence is in favour of the kind of index-number used by Professor Jevons — provided there is a large number of articles — as not insufficient for the purpose in hand. Nothing is more remarkable in the comparisons of the recent index-numbers than the correspondence...
Página 386 - ... things; why should we always say that it is those other things which have varied, and not the corn? That commodity is alone invariable which at all times requires the same sacrifice of toil and labour to produce it.
Página 134 - The chief use of pure mathematics in economic questions seems to be in helping a person to write down quickly, shortly and exactly, some of his thoughts for his own use : and to make sure that he has enough, and only enough, premises for his conclusions (ie that his equations are neither more nor less in number than his unknowns).
Página 291 - ... riches. By the invention of machinery, by improvements in skill, by a better division of labour, or by the discovery of new markets, where more advantageous exchanges may be made, a million of men may produce double or treble the amount of riches, of " necessaries, conveniences, and amusements...
Página 33 - If you were here at my fireside, I should dispute some of your principles. I cannot think that the rent of farms makes any part of the price of the produce, but that the price is determined altogether by the quantity and the demand.
Página 297 - The articles as to which records of prices are obtainable being themselves only a portion of the whole, nearly as good a final result may apparently be arrived at by a selection without bias, according to no better principle than accessibility of record, as by a careful attention to weighting.

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