Economics for BeginnersLongman's, Green, 1878 - 171 pages |
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Common terms and phrases
abstract Rights Annuity Aristotle Bank Notes banker Bills of Exchange bought and sold Bullion called cent Coinage Coins Commercial Companies commodity Consumption of Wealth corn Cost of Production created Creditor Creditor's Right Debt Debtor definition denote Discount Distribution doctrine Duty to pay earth Economic Quantity English Law exactly Exchangeable Quantities Funds future give Gresham's Law Hence Incorporeal Property land Law of Value material chattel material products material things means merchant modern Money or Credit nature Nexum Obligation ounce paid person Physical Science Physiocrates possession pound weight principle purchase raw produce Rent Right of action Right to demand Roman Law says School of Economists Science of Exchanges Science of Value second school sell Shares in Commercial Smith species sumption of Wealth Supply and Demand Suppose term Political Economy term Wealth Theory of Credit trade transfer wages weight of Silver widest extent word Wealth
Popular passages
Page 123 - The natural price of labour is that price which is necessary to enable the labourers, one with another, to subsist and to perpetuate their race, without either increase or diminution.
Page 148 - Johnson appeared bustling about, with an ink-horn and pen in his button-hole, like an excise-man ; and on being asked what he really considered to be the value of the property which was to be disposed of, answered, 'We are not here to sell a parcel of boilers and vats, but the potentiality of growing rich, beyond the dreams of avarice.
Page 120 - The property which every man has in his own labor, as it is the original foundation of all other property, so it is the most sacred and inviolable.
Page 2 - It has made each particular nation regard the welfare of its neighbours as incompatible with its own; hence the reciprocal desire of injuring and impoverishing each other; and hence that spirit of commercial rivalry which has been the immediate or remote cause of the greater number of modern wars.
Page 122 - Secondly, the wages of labour do not, in Great Britain, fluctuate with the price of provisions.
Page 69 - If you were ignorant of this, that Credit is the greatest Capital of all towards the acquisition of wealth, you would be utterly ignorant.
Page 123 - The natural price of labour, therefore, depends on the price of the food, necessaries, and conveniences required for the support of the labourer and his family.
Page 79 - Act, and whose estate may prove to be insufficient for the payment in full of his debts and liabilities, the same rules shall prevail and be observed as to the respective rights of secured and unsecured creditors, and as to debts and liabilities...
Page 15 - This view does not essentially differ from that of A. Smith, since in this science the term Wealth is limited to exchangeable commodities, and it treats of them so far forth only as they are, or are designed to be, the subjects of exchange. But for this very reason it is, perhaps, the more convenient to describe Political Economy as the science of Exchanges, rather than as the science of National Wealth.
Page 122 - It regulates the money price of labour, which must always be such as to enable the labourer to purchase a quantity of corn sufficient to maintain him and his family either in the liberal, moderate, or scanty manner in which the advancing, stationary, or declining circumstances of the society oblige his employers to maintain him.