Some Leading Principles of Political Economy Newly Expounded

Paperback | January 11, 2012

byJohn Elliott Cairnes

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This historic book may have numerous typos, missing text or index. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. 1874. Not illustrated. Excerpt: ... the initiative in the patriotic sacrifice, desiring, like the French soldiers at the battle of Fontenoy, to give to his opponent the honor of firing first. § 5. It seems to me that a sufficient case has now been made out to justify an attempt at a fresh exposition of the doctrine of Cost of Production. I therefore proceed to submit to the reader that view of it which such reflection as I have been able to give to the subject has led me to form. And here I must, in the first place, insist that cost means sacrifice, and can not, without risk of hopelessly confusing ideas, be identified with any thing that is not sacrifice. It represents what man parts with in the barter between him and nature, which must be kept eternally distinct from the return made by nature on that payment. This is the essential nature of cost; and the problem of cost of production as bearing on the theory of value is to ascertain how far and in what way the payment thus made by man to nature in productive industry determines or otherwise influences the exchange value of the products which result. To find an answer to this question we need not go beyond that fundamental principle of conduct which leads men to seek their ends by the easiest and shortest means. The end of engaging in industry is the acquisition of wealth; and the means, self-denial, toil, forethought, vigilance. The problem of industry is, therefore, to attain wealth at the least expenditure of those bodily and mental exertions--or, as we may say, at the least sacrifice or cost. And the law of cost of production, as governing value, is merely the practical consequence and outcome of the pursuit of wealth under this condition. In order to perceive this, it is only necessary to keep steadily in view the two following facts: F...

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This historic book may have numerous typos, missing text or index. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. 1874. Not illustrated. Excerpt: ... the initiative in the patriotic sacrifice, desiring, like the French soldiers at the battle of Fontenoy, to give to his opponent the ...

Format:PaperbackDimensions:134 pages, 9.69 × 7.44 × 0.29 inPublished:January 11, 2012Publisher:General Books LLCLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0217994873

ISBN - 13:9780217994873

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