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
I own I want words to express the astonishment I feel at the proposal
of such a remedy. A man, under the intoxication of what he conceives
to be a new and important discovery, may be excused for occasionally
making a rash statement; but that a proposal directly involving the
discontinuance of the division of labour should, in a civilized
country, be repeated over and over again by succeeding writers, and
considered as an _obvious resource_ in a sudden fall of profits,
absolutely passes my comprehension. What a strange and most inapt
illustration too, is it to talk about the possessors of broad cloths
wanting to change them for silks! Who ever heard of a great producer
of any commodity wishing to obtain an equivalent for it in some _one_
other sort of completed commodity? If he is to produce what he wants,
it must not be silks, but raw materials, tools, corn, meat, coats,
hats, shoes and stockings, &c. &c.; and this is the _obvious resource_
which is at hand in a glut!!!
Footnote 52:
Preface, p. 5.
Footnote 53:
Dissertation on Value, c. 1. p. 3.
Footnote 54:
Dissertation on Value, c. 1. p. 4.
Footnote 55:
Wealth of Nations, b. i. c. xi.
Footnote 56:
Production of Wealth, c. i. p. 49.
Footnote 57:
P. 242.
Footnote 58:
Dissertation on Value, c. i. p. 3.
Footnote 59:
C. ii. p. 39.
Footnote 60:
Dissertation on Value, c. iii. p. 58.
Footnote 61:
Dissertation on Value, c. xi. p. 194, 224. In the question between
Colonel Torrens and Mr. Mill, “Whether the value of commodities
depends upon capital as the final standard,” the author decides
against Mr. Mill, but surely without reason. Mr. Mill cannot be wrong
in thinking, that no progress whatever is made towards tracing the
value of a commodity to its elements, by saying, that its value is
determined by the value of the capital employed to produce it. The
question still remains, how is the value of the capital determined? As
to what the author says, p. 202, about the _amount_ of capital, unless
this amount be estimated in _money_, which quite alters the question,
it is entirely inapplicable as a standard.
Footnote 62:
C. viii. p. 160.
Footnote 63:
C. vi. p. 135.
Footnote 64:
Dissertation on Value, c. ii. p. 58.
Footnote 65:
Id. p. 39.
Footnote 66:
P. 240.
Footnote 67:
Dissertation on Value, c. ii. p. 40.
Footnote 68:
Dissertation on Value, c. vi. p. 117.
Footnote 69:
Dissertation on Value, c. vi. p. 117.
Footnote 70:
Dissertation on Value, c. vi. p. 117.
Footnote 71:
Dissertation on Value, c. vi. p. 113, et seq.
Footnote 72:
Dissertation on Value, c. vi. p. 110.
Footnote 73:
Dissertation on Value, c. vi. p. 102.
Footnote 74:
Dissertation on Value, c. vi. p. 120.
Footnote 75:
Dissertation on Value, c. vi. p. 122.
Footnote 76:
Dissertation on Value, c. vi. p. 121.
Footnote 77:
Wealth of Nations, b. i. c. xi. p. 291, 6th edit.
Footnote 78:
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