Knowledge is power : $b A view of the productive forces of modern society and the results of labor, capital and skill.Knight, Charles
Philosophy
Knowledge is power : $b A view of the productive forces of modern society and the results of labor, capital and skill.
Knight, Charles
Industrial arts; Industries
Society, both in its rudest form and in its most refined and complicated
relations, is nothing but a system of Exchanges. An exchange is a
transaction in which both the parties who make the exchange are
benefited;--and, consequently, society is a state presenting an
uninterrupted succession of advantages for all its members. Every time
that we make a free exchange we have a greater desire for the thing
which we receive than for the thing which we give;--and the person with
whom we make the exchange has a greater desire for that which we offer
him than for that which he offers us. When one gives his labour for
wages, it is because he has a higher estimation of the wages than of the
profitless ease and freedom of remaining unemployed;--and, on the
contrary, the employer who purchases his labour feels that he shall be
more benefited by the results of that labour than by retaining the
capital which he exchanges for it. In a simple state of society, when
one man exchanges a measure of wheat for the measure of wine which
another man possesses, it is evident that the one has got a greater
store of wheat than he desires to consume himself, and that the other,
in the same way, has got a greater store of wine;--the one exchanges
something to eat for something to drink, and the other something to
drink for something to eat. In a refined state of society, when money
represents the value of the exchanges, the exchange between the
abundance beyond the wants of the possessor of one commodity and of
another is just as real as the barter of wheat for wine. The only
difference is, that the exchange is not so direct, although it is
incomparably more rapid. But, however the system of exchange be carried
on,--whether the value of the things exchanged be determined by barter
or by a price in money,--all the exchangers are benefited, because all
obtain what they want, through the store which they possess of what they
do not want.
Public-domain text, read in full here on John Shaqi.
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