Definitions in Political Economy,: Preceded by an Inquiry Into the Rules which Ought to Guide Political Economists in the Definition and Use of Their Terms; with Remarks on the Deviation from These Rules in Their WritingsMalthus, T. R. (Thomas Robert)
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Definitions in Political Economy,: Preceded by an Inquiry Into the Rules which Ought to Guide Political Economists in the Definition and Use of Their Terms; with Remarks on the Deviation from These Rules in Their Writings
Malthus, T. R. (Thomas Robert)
Classical school of economics; Economics
_Def. 23._ It is this gross surplus of the land which furnishes the
means of subsistence to the inhabitants of towns and cities. Besides the
rents of land, which are powerfully effective in this respect, a large
part of what, in the division of the produce of land, would fall to the
shares of the farmers and labourers, is exchanged by them for other
objects of convenience and gratification, thus giving the main
necessaries of life to a great mass of persons not immediately connected
with the soil. The proportion which this mass of persons may bear to the
cultivators will depend upon the natural fertility of the soil, and the
skill with which it has been improved, and continues to be worked.
_Defs. 28 and 30._ In a valuable publication on the _Price of Corn, and
Wages of Labour_, by Sir Edward West, which has just fallen into my
hands, he proposes that the _price of labour_ should mean the sum paid
for a given quantity of labour of a given character. I quite agree with
him in thinking that it would be useful to have some appropriate term to
express this meaning; but, as the _price of labour_ has certainly not
hitherto been used in this sense, and as it would be, in almost all
cases, extremely difficult to give an answer to a question respecting
the price of labour so understood, it would certainly be proper to vary
the expression in some degree, in order to prepare people for a new
meaning. In Definition 30, therefore, I have given this meaning to _The
price of effective labour_.
_Def. 31._ It would save time and circumlocution, which is one of the
great objects of appropriate terms, if, in speaking of the labour worked
up in commodities, the labour worked up in the capital necessary to
their production were designated by the term _accumulated labour_, as
contradistinguished from the _immediate labour_ employed by the last
capitalist. We must always recollect, however, that labour is not the
only element worked up in capital.
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