Principles of Political Economy: Abridged with Critical, Bibliographical, and Explanatory Notes, and a Sketch of the History of Political Economy
John Stuart Mill · en
Number of Capital Average Total amount
establishments. (Thousands). number of paid in
hands wages during
employed. the year.
1860 140,433 $1,009,855 1,311,246 $378,878,966
1880 253,852 2,790,272 2,732,595 947,953,795
“A hundred years ago, one person in every family of five or six
must have been absolutely needed to spin and weave by hand the
fabrics required for the scanty clothing of the people; now one
person in two hundred or two hundred and fifty only need work in
the factory to produce the cotton and woolen fabrics of the most
amply clothed nation of the world.”(112)
To these considerations must be added, that, even if improvements did for
a time decrease the aggregate produce and the circulating capital of the
community, they would not the less tend in the long run to augment both.
This tendency of improvements in production to cause increased
accumulation, and thereby ultimately to increase the gross produce, even
if temporarily diminishing it, will assume a still more decided character
if it should appear that there are assignable limits both to the
accumulation of capital and to the increase of production from the land,
which limits once attained, all further increase of produce must stop; but
that improvements in production, whatever may be their other effects, tend
to throw one or both of these limits farther off. Now, these are truths
which will appear in the clearest light in a subsequent stage of our
investigation. It will be seen that the quantity of capital which will, or
even which can, be accumulated in any country, and the amount of gross
produce which will, or even which can, be raised, bear a proportion to the
state of the arts of production there existing; and that every
improvement, even if for the time it diminish the circulating capital and
the gross produce, ultimately makes room for a larger amount of both than
could possibly have existed otherwise. It is this which is the conclusive
answer to the objections against machinery; and the proof thence arising
of the ultimate benefit to laborers of mechanical inventions, even in the
existing state of society, will hereafter be seen to be conclusive.(113)
Chapter VI. Of Causes Affecting The Efficiency Of Production.
§ 1. General Causes of Superior Productiveness.
The most evident cause of superior productiveness is what are called
natural advantages. These are various. Fertility of soil is one of the
principal. The influence of climate [is another advantage, and] consists
in lessening the physical requirements of the producers.