The Commerce of Nations;
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In our eReader you can find the full English version of the book. Read The Commerce of Nations; 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 The Commerce of Nations;
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Some industries are, however, less suited for a country than others. Under freedom such occupations would be abandoned altogether, or contracted to profitable limits. If it is desired to have them on a large scale, it is necessary that some artificial encouragement should be given. The imposition of a protective duty will probably lead to a higher rate of wages in the protected industries, and enable them to be carried on. The general rate of wages will, on the other hand, be reduced so far as ...labourers are purchasers from the protected industries, while the total productiveness of the community will suffer through the diversion of labour and capital to comparatively unsuitable uses. That high wages are a bar to the prosecution of some forms of industry is undoubtedly true, but this only shows that there are other and better openings for industrial activity.
XIV. Home Trade is more Profitable, as it gives double Employment to Capital. — Readers of Adam Smith will remember the discussion in the Wealth 0/ JVatwns Tespecting the relative advantage of diiferent uses of capital, and the conclusion that the home trade replaces two distinct capitals, thus differing from foreign trade, which replenishes only one domestic capital.
What to read after The Commerce of Nations;?
You can find similar books in the "Read Also" column, or choose other free books by Charles Francis Bastable to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
Some industries are, however, less suited for a country than others. Under freedom such occupations would be abandoned altogether, or contracted to profitable limits. If it is desired to have them on a large scale, it is necessary that some artificial encouragement should be given. The imposition of a protective duty will probably lead to a higher rate of wages in the protected industries, and enable them to be carried on. The general rate of wages will, on the other hand, be reduced so far as ...labourers are purchasers from the protected industries, while the total productiveness of the community will suffer through the diversion of labour and capital to comparatively unsuitable uses. That high wages are a bar to the prosecution of some forms of industry is undoubtedly true, but this only shows that there are other and better openings for industrial activity.
XIV. Home Trade is more Profitable, as it gives double Employment to Capital. — Readers of Adam Smith will remember the discussion in the Wealth 0/ JVatwns Tespecting the relative advantage of diiferent uses of capital, and the conclusion that the home trade replaces two distinct capitals, thus differing from foreign trade, which replenishes only one domestic capital.
What to read after The Commerce of Nations;?
You can find similar books in the "Read Also" column, or choose other free books by Charles Francis Bastable to read onlineMoreLess
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