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Adam Smith amount annual appeal argument assessed Bargaining better capital CHAPTER cheap claim cloth co-operation Collective Bargaining comes competition consumer consumption cost crop demand difference distribution divided division of labour duction economic economists Edwin Cannan efficiency embodied employed employer escape fact factors factors of production fall field give growing hand human idea increase individual Industrial Democracy interest keep land less limited Limited Liability Companies living machine machinery manual labour manufacturer material matter ment merchant minders mobility modern money income National Income Nature occupation organisation paid paymaster payment perhaps person Physiocratic principle producer's surplus production process profits real income realised recognised reduced regards remuneration rent rise salary seems sell services rendered skilled society Standard Rate subsistence supply Suppose tend thing tion Trade Unionism wages wants wealth wear whole women workers worth
Сторінка 330 - ... led by an invisible hand to promote an end which was no part of his intention. Nor is it always the worse for the society that it was no part of it. By pursuing his own interest he frequently promotes that of the society more effectually than when he really intends to promote it. I have never known much good done by those who affected to trade for the public good.
Сторінка 329 - ... intends only his own security ; and by directing that industry in such a manner as its produce may be of the greatest value, he intends only his own gain, and he is in this, as in many other cases, led by an invisible hand to promote an end which was no part of his intention. Nor is it always the worse for the society that it was no part of it. By pursuing his own interest he frequently promotes that of the society more effectually than when he really intends to promote it.
Сторінка 154 - But in a great house there are not only vessels of gold and of silver, but also of wood and of earth ; and some to honour, and some to dishonour. 21 If a man therefore purge himself from these, he shall be a vessel unto honour, sanctified, and meet for the master's use, and prepared unto every good work.
Сторінка 303 - The exchangeable value of all commodities, whether they be manufactured, or the produce of the mines, or the produce of land, is always regulated, not by the less quantity of labour that will suffice for their production under circumstances highly favourable, and exclusively enjoyed by those who have peculiar facilities of production; but by the greater quantity of labour necessarily bestowed on their production by those who have no such facilities...
Сторінка 330 - The laws and conditions of the Production of wealth partake of the character of physical truths.
Сторінка 114 - The Leaders of Industry, if Industry is ever to be led, are virtually the Captains of the World ; if there be no nobleness in them, there will never be an Aristocracy more.
Сторінка 118 - Chactaw ; till there come something better, still more indomitable from him. His hundred Thousand-pound Notes, if there be nothing other, are to me but as the hundred Scalps in a Chactaw wigwam. The blind Plugson ; he was a Captain of Industry, born member of the Ultimate genuine Aristocracy of this Universe...
Сторінка 286 - ... and enjoying themselves, whether the bargain with the individual workman has been made or not. Very different is the case with the wage-earner. If he refuses the foreman's terms even for a day, he irrevocably loses his whole day's subsistence. If he has absolutely no other resources than his labor, hunger brings him to his knees the very next morning. Even if he has a little hoard, or a couple of rooms full of furniture, he and his family can only exist by the immediate sacrifice of their cherished...
Сторінка viii - By being obliged to go every year over the same ground, if he is good for any thing, he necessarily becomes, in a few years, well acquainted with every part of it : and if, upon any particular point, he should form too hasty an opinion one year, when he comes, in the course of his lectures, to reconsider the same subject the year thereafter, he is very likely to correct it.