The Place of Science in Modern Civilisation and Other Essays

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B.W. Huebsch, 1919 - 509 стор.

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Сторінка 114 - By preferring the support of domestic to that of foreign industry, he 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.
Сторінка 114 - Every individual is continually exerting himself to find out the most advantageous employment for whatever capital he can command. It is his own advantage, indeed, and not that of the society, which he has in view. But the study of his own advantage naturally, or rather necessarily leads him to prefer that employment which is most advantageous to the society.
Сторінка 132 - The annual labour of every nation is the fund which originally supplies it with all the necessaries and conveniences of life which it annually consumes, and which consist always either in the immediate produce of that labour, or in what is purchased with that produce from other nations.
Сторінка 203 - The value of a thing Is just as much as it will bring," and the later refinements on the theory of value have not set aside this dictum of the ancient authority.
Сторінка 117 - When the price of any commodity is neither more nor less than what is sufficient to pay the rent of the land, the wages of the labour, and the profits of the stock employed in raising, preparing, and bringing it to market, according to their natural rates, the commodity is then sold for what may be called its natural price.
Сторінка 128 - Labour was the first price, the original purchase-money that was paid for all things. It was not by gold or by silver, but by labour, that all the wealth of the world was originally purchased...
Сторінка 115 - ... 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.
Сторінка 120 - It cannot then be correct to say with Adam Smith, "that as labour may sometimes purchase a greater and sometimes a smaller quantity of goods, it is their value which varies, not that of the labour which purchases them...
Сторінка 133 - The produce of the earth — all that is derived from its surface by the united application of labour, machinery, and capital, is divided among three classes of the community: namely, the proprietor of the land, the owner of the stock or capital necessary for its cultivation, and the labourers by whose industry it is cultivated.
Сторінка 75 - The economic life history of the individual is a cumulative process of adaptation of means to ends that cumulatively change as the process goes on, both the agent and his environment being at any point the outcome of the last process.

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