On the Economy of Machinery and ManufacturesBabbage, Charles
ReligionComparative
On the Economy of Machinery and Manufactures
Babbage, Charles
Machinery; Manufactures
163. The economical principles which regulate the application
of machinery, and which govern the interior of all our great
factories, are quite as essential to the prosperity of a great
commercial country, as are those mechanical principles, the
operation of which has been illustrated in the preceding section.
The first object of every person who attempts to make any
article of consumption, is, or ought to be, to produce it in a
perfect form; but in order to secure to himself the greatest and
most permanent profit, he must endeavour, by every means in his
power, to render the new luxury or want which he has created,
cheap to those who consume it. The larger number of purchasers
thus obtained will, in some measure, secure him from the caprices
of fashion, whilst it furnishes a far greater amount of profit,
although the contribution of each individual is diminished. The
importance of collecting data, for the purpose of enabling the
manufacturer to ascertain how many additional customers he will
acquire by a given reduction in the price of the article he
makes, cannot be too strongly pressed upon the attention of those
who employ themselves in statistical enquiries. In some ranks of
society, no diminution of price can bring forward a great
additional number of customers; whilst, amongst other classes, a
very small reduction will so enlarge the sale, as to yield a
considerable increase of profit. Materials calculated to assist
in forming a table of the numbers of persons who possess incomes
of different amount, occur in the 14th Report of the
Commissioners of Revenue Inquiry, which includes a statement of
the amount of personal property proved at the legacy office
during one year; the number of the various classes of testators;
and an account of the number of persons receiving dividends from
funded property, distributed into classes. Such a table, formed
even approximately, and exhibited in the form of a curve, might
be of service.
Public-domain text, read in full here on John Shaqi.
Reviews
Reviews
No reviews yet
Be the first to share your thoughts on this work.
Elsewhere in the archive
Join the Discussion
Join the discussion
Sign in to leave a comment or review.
Sign InorCreate an account