An Inquiry into the Nature and Progress of Rent, and the Principles by Which It is RegulatedMalthus, T. R. (Thomas Robert)
General
An Inquiry into the Nature and Progress of Rent, and the Principles by Which It is Regulated
Malthus, T. R. (Thomas Robert)
Rent
Nor would the effect be essentially different in a country which
continued to feed its own people, if instead of a demand for its raw
produce, there was the same increasing demand for its manufactures.
These manufactures, if from such a demand the value of their amount
in foreign countries was greatly to increase, would bring back a great
increase of value in return, which increase of value could not fail to
increase the value of the raw produce. The demand for agricultural as
well as manufactured produce would be augmented; and a considerable
stimulus, though not perhaps to the same extent as in the last case,
would be given to every kind of improvement on the land.
A similar effect would be produced by the introduction of new machinery,
and a more judicious division of labour in manufactures. It almost
always happens in this case, not only that the quantity of manufactures
is very greatly increased, but that the value of the whole mass is
augmented, from the great extension of the demand for them, occasioned
by their cheapness. We see, in consequence, that in all rich
manufacturing and commercial countries, the value of manufactured and
commercial products bears a very high proportion to the raw products;
[10] whereas, in comparatively poor countries, without much internal
trade and foreign commerce, the value of their raw produce constitutes
almost the whole of their wealth. If we suppose the wages of labour
so to rise with the rise of produce, as to give the labourer the same
command of the means of subsistence as before, yet if he is able to
purchase a greater quantity of other necessaries and conveniencies, both
foreign and domestic, with the price of a given quantity of corn, he may
be equally well fed, clothed, and lodged, and population may be equally
encouraged, although the wages of labour may not rise so high in
proportion as the price of produce.
And even when the price of labour does really rise in proportion to the
price of produce, which is a very rare case, and can only happen when
the demand for labour precedes, or is at least quite contemporary with
the demand for produce; it is so impossible that all the other outgoings
in which capital is expended, should rise precisely in the same
proportion, and at the same time, such as compositions for tithes,
parish rates, taxes, manure, and the fixed capital accumulated under the
former low prices, that a period of some continuance can scarcely fail
to occur, when the difference between the price of produce and the cost
of production is increased.
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