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in the Clerk's Office of the District Court of the United States for the Eastern District of

Pennsylvania.

CONTENTS

powers

25. Labor-power the most perishable of all commodities. Perishes, unless the

demand follows instantly upon its production ..........

25

26. 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

89. 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

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

42

VOL. III.-1

(i)

$ 12. Errors of modern economists in regard to productive and unproductive

labor. All labor productive which tends to enable man more thoroughly to
direct the forces of nature to his service — wealth consisting in the existence
of that power of direction. The greater the power of man over nature, the
more rapid the progress of accumulation

2 1. Power of accumulation, in both the natural and social world, in the ratio

of the circulation

2. Capital, the instrument by means of which man is enabled to direct the

natural forces to his sorvice. Power of association grows, as he obtains in-

creased command over the instrument. Declines, as it obtains command

over him

23. Movable capital declines in its proportions, as compared with that which

is fixed — that decline being an evidence of advancing civilization. Com-

merce grows with this change of proportions

4. Centralization increases the proportion of movable capital — that change

being an evidence of declining civilization. Historic illustrations. Increase

of movable capital in all the present free-trade countries

ở 5. Fixed capital increases in its proportions, as the prices of raw materials

and finished commodities more and more approximate — declining as they

recede from each other

8 6. Errors of modern economists in regarding saving as the cause of the

growth of capital

27. That growth due to the economy of human effort. That economy a conse-

quence of diversification of employments, and consequent combination of

action. Waste of human power in all the countries which follow in the train

of Britain. Resistance to the British system, and its effects

2 8. Errors of Adam Smith in regard to the origin of capital

29. Inconsistencies of British economists

2 10. Capital grows with the growth of local centres, with constant increase in

the power of production, and in the rapidity of circulation. Summary of the

definitions thus far given in the present work

among men ...........

22. Little circulation of either land or man, in the earlier stages of society.

Large proportion then borne by movable to fixed capital

75

3. Circulation increases in its rapidity, in the direct ratio of the tendency of

capital to become fixed and immovable. Historic illustrations

78

2 4. The more rapid the circulation, the greater the tendency towards the cre-

ation of local centres, towards the development of individuality, and towards

having society assume its natural form ...................

80

25. Circulation diminishes in its rapidity as land becomes consolidated, and

movable capital increases in its proportions. Phenomena presented for exa-

mination by Greece, Italy, and Spain.

81

26. Circulation becomes more rapid as employments become diversified, and

land becomes divided....................

83

27. The more perfect the security of property, the greater is the tendency

towards having it become fixed, land then becoming divided. Social pheno-

mena exhibited by France

84

2 8. Tendency of British policy to promote increase in the proportions of mova-

ble capital, at the expense of that which is fixed. Consequent sluggishness

of circulation, in all the countries subject to it ........

89

§ 9. Circulation becomes more rapid in the ratio of the tendency towards ap-

proximation in the prices of rude products and finished commodities. That

tendency grows in all the countries that follow in the lead of Colbert and of

France, while declining in all of those that follow in the train of the Ricardo.

Malthusian school .........

92

2 10. Tendency of the British colonial system to produce stoppage of the cir-

culation. Its effects, as exhibited in the past and present of the United

States

95

2 11. Increase in the proportion borne, in the United States, by movable capi-

tal, and consequent sluggishness of circulation. Their growing dependence

on the movements of the trader

101

2 12. The more rapid the circulation, the greater the force exerted. Force in-

creases in all the countries that follow in the train of Colbert, while declining

in those which adopt the doctrines of the British school ....

102

2 13. Difference between Adam Smith and the modern British economists.

The one regarded commerce as the handmaid of agriculture. The other looks

to trade as master the societary movement

103

2 14. The more rapid the circulation, the more equitable the distribution.

Identity of the physical and social laws

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