The Working Principles of Political Economy in a New And Practical Form a book
The Working Principles of Political Economy in a New And Practical Form a book
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In our eReader you can find the full English version of the book. Read The Working Principles of Political Economy in a New And Practical Form a book 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 Working Principles of Political Economy in a New And Practical Form a book
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To quickly assess the difficulty of the text, read a short excerpt:
260 Political Economy.
It must not be supposed, however, that a low custom- ary rate of interest is on the whole a thing to be desired by employers. On the contrary it is a sign of low profits. It shows that the prospects of making gain by the use of savings, whether one's own or borrowed, are not very encouraging. In other words, it shows that wages are high in comparison with the productiveness of labor.
9. Advantageous Sales as a Source of Profit. Assuming the value of money to be constant, ...or that a correction is made for variations of its value, it is easy to see that the profits of the business man in respect of any given quan- tity of product, are measured by the difference between the money cost of it to him and the price he obtains for it.
When the price of a product is above that of other things produced by the same amount of labor and wait- ing, either the employers engaged in producing it, or the laborers, or both, have higher rewards than the producers of other things. The sharing of the extra returns be- tween employers and laborers depends on the greater or less readiness with which the laborers in other industries can be drawn in at need, to take part in the production ^ In cases where this can be done freely, the benefit of the high market value accrues to the employers.
What to read after The Working Principles of Political Economy in a New And Practical Form a book?
You can find similar books in the "Read Also" column, or choose other free books by S M Silas Marcus Macvane to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
260 Political Economy.
It must not be supposed, however, that a low custom- ary rate of interest is on the whole a thing to be desired by employers. On the contrary it is a sign of low profits. It shows that the prospects of making gain by the use of savings, whether one's own or borrowed, are not very encouraging. In other words, it shows that wages are high in comparison with the productiveness of labor.
9. Advantageous Sales as a Source of Profit. Assuming the value of money to be constant, ...or that a correction is made for variations of its value, it is easy to see that the profits of the business man in respect of any given quan- tity of product, are measured by the difference between the money cost of it to him and the price he obtains for it.
When the price of a product is above that of other things produced by the same amount of labor and wait- ing, either the employers engaged in producing it, or the laborers, or both, have higher rewards than the producers of other things. The sharing of the extra returns be- tween employers and laborers depends on the greater or less readiness with which the laborers in other industries can be drawn in at need, to take part in the production ^ In cases where this can be done freely, the benefit of the high market value accrues to the employers.
What to read after The Working Principles of Political Economy in a New And Practical Form a book?
You can find similar books in the "Read Also" column, or choose other free books by S M Silas Marcus Macvane to read onlineMoreLess
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