An Essay On the Production of Wealth

Cover An Essay On the Production of Wealth
An Essay On the Production of Wealth
R Robert Torrens
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" To this the silk manufacturer would reply, —-" The question does not turn " upon the quantities of labour required to pro^ ** cure our respective articles. Our capitals are " each worth a hundred days' wages : they are " equivalent and convertible ; and, if you refuse ** to exchange their respective products upon " equal terms, I can, g-t the same cost which " fabricates my silk, obtain wages for ninety, '^ with wool equivalent to wages foif ten, and '^ thus have wi;rought up for me the same ...qug-n^ ** tity of woollens which I require of you^ You 38 " cannot expect that I should accept in exchange " for the product of my capital, a less quantity " of any article, than that capital might at any " time procure for me, if I chose to manufacture " it for myself" To this no farther objection could reasonably be urged. After capitalists become a class distinct from labourers, competi- tion turns, not upon the quantity of labour, but upon the amount of capital expended in produc- tion ; and the results obtained after the employ- ment of equal capitals, will always tend to an equality of value in the market.

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