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4. Fourth case; the arts of production progressive, capital and

population stationary,

5. Fifth case; all the three elements progressive,

CHAPTER IV. Of the Tendency of Profits to a Minimum.

§ 1. Doctrine of Adam Smith on the competition of capital,
2. Doctrine of Mr. Wakefield respecting the field of employ-
ment,

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3. What determines the minimum rate of profit,

4. In opulent countries, profits habitually near to the minimum,
5. prevented from reaching it by commercial revulsions,

6.

7.

8.

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- by the importation of cheap necessaries and instruments,

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§ 1. Abstraction of capital not necessarily a national loss,

2. In opulent countries, the extension of machinery not detri-
mental but beneficial to labourers,

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