The Principles of Biology, Volume 1 (of 2)Spencer, Herbert
Science
The Principles of Biology, Volume 1 (of 2)
Spencer, Herbert
Biology
Nevertheless if, as fast as more iron can be thus supplied, the
ship-building industry goes on growing--if, consequently, the iron-makers
experience a permanently-increased demand, and out of their greater profits
get higher interest on capital, as well as pay higher wages; there will
eventually be an abstraction of capital and labour from other industries to
enlarge the iron-producing industry: new blast-furnaces, new rolling-mills,
new cottages for workmen, will be erected. But obviously, the inertia of
capital and labour to be overcome before the iron-producing industry can
grow by a decrease of certain other industries, will prevent its growth
from taking place until long after the increased ship-building industry has
demanded it; and meanwhile, the growth of the ship-building industry must
be limited by the deficiency of iron. A remoter restraint of the same
nature meets us if we go a step further--a restraint which can be overcome
only in a still longer time. For the manufacture of iron depends on the
supply of coal. The production of coal being previously in equilibrium with
the consumption; and the consumption of coal for the manufacture of iron
being but a small part of the total consumption; it follows that a
considerable extension of the iron manufacture, when it at length takes
place, will cause but a comparatively small additional demand on the
coal-owners and coal-miners--a demand which will not, for a long period,
suffice to cause enlargement of the coal-trade, by drawing capital and
labour from other investments and occupations. And until the permanent
extra demand for coal has become great enough to draw from other
investments and occupations sufficient capital and labour to sink new
mines, the increasing production of iron must be restricted by the scarcity
of coal, and the multiplication of ship-yards and ship-builders must be
checked by the want of iron. Thus, in a community which has reached a state
of moving equilibrium, though any one industry directly affected by an
additional demand may rapidly undergo a small extra growth, yet a growth
beyond this, requiring as it does the building-up of subservient
industries, less directly and strongly affected, as well as the partial
unbuilding of other industries, can take place only with comparative
slowness. And a still further growth, requiring structural modifications of
industries still more distantly affected, must take place still more
slowly.
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