Principles of Economics, Vol. 1 (Classic Reprint)

The present edition of Volume l. differs from the first only in points of detail, and in arrangement. The most important alteration is the fusion of the old Books V. and Vl., together with some additional matter, into the present Book v.; the chief purpose of the change being to throw further light on the position held by the element ofT ime in economics, and to show more clearly how Time modifies the reciprocal influences of the earnings of workers and the prices of the goods made by them. For as regards fluctuations in short periods the leading r61e is held by prices, and a subordinate one by earnings: but as regards the slow adjustments of normal value their parts are interchanged; and the influence which prices exert on earnings, is less than that which earnings exert on prices. Closely connected with this subject are the alterations made in the earlier and later Chapters of the present Book VI., (the Book vii. of the first edition). They aim at emphasizing and defining more fully the distinguishing characteristics of the broad problem of Distribution as contrasted with questions relating to the values of particular things; and at showing more clearly how, though the causes that govern demand, and those that govern supply can be studied separately, in the case of any single commodity, yet this CM moske done for the A gents of production as a whole.
(Typographical errors above are due to OCR software and don't occur in the book.)

About the Publisher

Forgotten Books is a publisher of historical writings, such as: Philosophy, Classics, Science, Religion, History, Folklore and Mythology.

Forgotten Books' Classic Reprint Series utilizes the latest technology to regenerate facsimiles of historically important writings. Careful attention has been made to accurately preserve the original format of each page whilst digitally enhancing the aged text.