The Social And Industrial Problem a Brief Introduction to the Study of Social E
The Social And Industrial Problem a Brief Introduction to the Study of Social E
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In our eReader you can find the full English version of the book. Read The Social And Industrial Problem a Brief Introduction to the Study of Social E 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 Social And Industrial Problem a Brief Introduction to the Study of Social E
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To quickly assess the difficulty of the text, read a short excerpt:
The bank is running a risk of a failure in the cotton crop, but the risk is eliminated owing to the great number of transactions the bank undertakes.
It is obvious that, if "credit " does not exist, A's cotton-growing must be limited by the amount of transferable wealth (gold, etc. ) which he possesses. But gold itself represents the expenditure of much labour; and the total amount of gold in the community is in- evitably too little to "pay for " industry on any but a very small scale. B, howev...er, may be willing to accept A's personal promise to pay, backed by some gold as a margin against possible loss. A's opera- tions may be thus somewhat more extended; but they are still limited by reference to the amount of gold he himself possesses, and by the fact that the manufac- turer to whom he sells the cotton can also only pay partly in gold and partly in "promises. " In either case, the extent of A's industry is limited; and what 213 The Social and Industrial Problem is true of A is equally true of all other industries in which a period of time elapses before the final product appears.
What to read after The Social And Industrial Problem a Brief Introduction to the Study of Social E?
You can find similar books in the "Read Also" column, or choose other free books by Alfred Hook to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
The bank is running a risk of a failure in the cotton crop, but the risk is eliminated owing to the great number of transactions the bank undertakes.
It is obvious that, if "credit " does not exist, A's cotton-growing must be limited by the amount of transferable wealth (gold, etc. ) which he possesses. But gold itself represents the expenditure of much labour; and the total amount of gold in the community is in- evitably too little to "pay for " industry on any but a very small scale. B, howev...er, may be willing to accept A's personal promise to pay, backed by some gold as a margin against possible loss. A's opera- tions may be thus somewhat more extended; but they are still limited by reference to the amount of gold he himself possesses, and by the fact that the manufac- turer to whom he sells the cotton can also only pay partly in gold and partly in "promises. " In either case, the extent of A's industry is limited; and what 213 The Social and Industrial Problem is true of A is equally true of all other industries in which a period of time elapses before the final product appears.
What to read after The Social And Industrial Problem a Brief Introduction to the Study of Social E?
You can find similar books in the "Read Also" column, or choose other free books by Alfred Hook to read onlineMoreLess
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