Municipal Trade the Advantages And Disadvantages Resulting From the Substitutio
Municipal Trade the Advantages And Disadvantages Resulting From the Substitutio
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In our eReader you can find the full English version of the book. Read Municipal Trade the Advantages And Disadvantages Resulting From the Substitutio Online - link to read the book on full screen. Our eReader also allows you to upload and read Pdf, Txt, ePub and fb2 books. In the Mini eReder on the page below you can quickly view all pages of the book - Read Book Municipal Trade the Advantages And Disadvantages Resulting From the Substitutio
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(33) The second reason why the results of the older municipalisations should not be quoted as guides for the future, at all events as regards the municipalisation of the same industry, is because it is probable that these older ventures have always been more profitable than the more recent ones in the same industry. In considering this point it is necessary to refer again to the effect of risks on profits. The apparent risk in any industry may either increase or decrease as time goes on ; but a...s it has seldom increased in those industries which have usually been municipalised, and as, had it done so, municipalities would seldom have been tempted to buy the works of private proprietors in these circumstances, what we really have to consider is the effect of a diminu- tion in the apparent risk in particular industries CHAP, viii] DECREASE IN RISK 245 and in industries generally. The rate of interest fell considerally during the last half of the last century ; but, in so far as this fall affected municipal and industrial securities alike, it had no effect on municipal net profits.
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To quickly assess the difficulty of the text, read a short excerpt:
(33) The second reason why the results of the older municipalisations should not be quoted as guides for the future, at all events as regards the municipalisation of the same industry, is because it is probable that these older ventures have always been more profitable than the more recent ones in the same industry. In considering this point it is necessary to refer again to the effect of risks on profits. The apparent risk in any industry may either increase or decrease as time goes on ; but a...s it has seldom increased in those industries which have usually been municipalised, and as, had it done so, municipalities would seldom have been tempted to buy the works of private proprietors in these circumstances, what we really have to consider is the effect of a diminu- tion in the apparent risk in particular industries CHAP, viii] DECREASE IN RISK 245 and in industries generally. The rate of interest fell considerally during the last half of the last century ; but, in so far as this fall affected municipal and industrial securities alike, it had no effect on municipal net profits.
What to read after Municipal Trade the Advantages And Disadvantages Resulting From the Substitutio?
You can find similar books in the "Read Also" column, or choose other free books by Darwin, Leonard, 1850-1943 to read onlineMoreLess
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