Principles of Political Economy, Vol. 1Roscher, Wilhelm
History
Principles of Political Economy, Vol. 1
Roscher, Wilhelm
Economics
D. In the case also of those raw materials which are objects of
occupation, and never of real production, as, for instance, minerals, a
progressive public economy, by altering the different elements of price in
an opposite direction, may leave their price on the whole unchanged. Here,
indeed, the discovery of new and especially of rich natural stores may
exert an incalculable influence; but such “accidents” underlie the laws of
human development only to the extent that those ages which are
intellectually most active are those also which are most industrious and
fortunate in the discovery of their natural resources.(810)
Section CXXXIV.
History Of The Prices Of The Chief Wants Of Life. (Continued.)
E. The products of industry become cheaper and cheaper as economic culture
advances; whereas, for instance, in England, towards the end of the middle
ages, a single shirt was considered of importance enough to be made not
unfrequently an object of testamentary bequest.(811) And, indeed, the
price of industrial products sinks lower the more important the part
played in their production by capital and the division of labor is as
compared with the part played by the raw material.(812) On this account,
in recent times, fine cloths have grown, relatively speaking, much cheaper
than coarse ones.(813) Lead, which during the middle ages in England was
much cheaper than iron, because of the difficulty of mining the latter,
has become much dearer in our days.(814) Conversely, where raw material
plays the most important part in manufactures, the price of the
manufactured article may increase with an advance in civilization. Hence,
articles made of wood are procured at the cheapest rates in mountainous
countries, where the division of labor is not carried very far, but where
the raw material is cheap.(815)
F. But the price of commodities decreases, especially in the higher stages
of civilization, to the extent that it is dependent on commerce.(816) Here
capital and human labor almost exclusively are effective, and the modern
improvements of communication, legal security and competition are
especially striking.(817)
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