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18 6 5.

TILDEN LIBRARA

Entered, according to Act of Congress, in the year 1858, by

H. C. CAREY, In the Clerk's Office of the District Court of the United States for the Eastern District of

Pepnsylvania.

1895

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CHAPTER XXXVIII.

OF PRODUCTION AND CONSUMPTION.

§ 1. Every act of consumption also an act of production - the one being,
therefore, the measure of the other ....................

........................... 17
& 2. Production consists in the direction of the forces of nature to the service

of man. For obtaining command of nature, man must qualify himself by
first obtaining command over his own latent powers. Identity of the physi-

cal and social laws .................................... ...................................... 19

& 3. Man the ultimate object of all production. Demand, the cause of supply.

The more numerous the men, and the greater the power of combination, the

greater the demand ................ .** ..............

............................... 21

& 4. Production grows as the power of the trader and transporter declines.

That decline a consequence of diversification in the demand for human

powers ................
..............

23

25. Labor-power the most perishable of all commodities. Perishes, unless the
demand follows instantly upon its production ........

25
6. Waste of labor one of the conditions of early society and scattered popula.
tion. Errors of Mr. Malthus and his disciples ......

28
27. Wages and productive power of England, at various periods ............... 31
28. Wages and production of the people of Scotland, of the past and present, 37
29. The more continuous and steady the societary motion, the more instant

the demand for, and the economy of, labor. That continuity the test of real
civilization. Diversity of employments indispensable to its existence. Waste

of power in, and consequent poverty of, all purely agricultural countries ..... 38

8 10. Continuity in the demand for labor, with growing commerce, to be found

in those countries in which raw materials and finished commodities most ap-

proximate in prices .......

......................................................................... 12

VOL. III.-1

(i)

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