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The World's Greatest Books [Volumes 1-15, 17-20]
- Автор: Gutenberg
- Год: 1910
- Язык: английский
- Жанр: Культурология
Электронная книга - «The World's Greatest Books [Volumes 1-15, 17-20]». Краткое содержание книги:
The World's Greatest Books — Volume 01 — Fiction от Неизвестный
The World's Greatest Books — Volume 02 — Fiction от Неизвестный
The World's Greatest Books — Volume 03 — Fiction от Неизвестный
The World's Greatest Books — Volume 04 — Fiction от Неизвестный
The World's Greatest Books — Volume 05 — Fiction от Неизвестный
The World's Greatest Books — Volume 06 — Fiction от Неизвестный
The World's Greatest Books — Volume 07 — Fiction от Неизвестный
The World's Greatest Books — Volume 08 — Fiction от Неизвестный
The World's Greatest Books — Volume 09 — Lives and Letters от Неизвестный
The World's Greatest Books — Volume 10 — Lives and Letters от Неизвестный
The World's Greatest Books — Volume 11 — Ancient and Mediæval History от Неизвестный
The World's Greatest Books — Volume 12 — Modern History от Неизвестный
The World's Greatest Books — Volume 13 — Religion and Philosophy от Неизвестный
The World's Greatest Books — Volume 14 — Philosophy and Economics от Неизвестный
The World's Greatest Books — Volume 15 — Science от Неизвестный
The World's Greatest Books — Volume 17 — Poetry and Drama от Неизвестный
The world's greatest books от Mee, Arthur, 1875-1943, joint editor & Hammerton, John Alexander, Sir, 1871-1949, joint editor & McClure, S. S. (Samuel Sidney), 1857-1949, joint editor
The World's Greatest Books — Volume 19 — Travel and Adventure от Неизвестный
The World's Greatest Books — Volume 20 — Miscellaneous Literature and Index от Неизвестный
It is at once evident that rent is the effect of a monopoly. If all the land of the country belonged to one person he could fix the rent at his pleasure. The whole people would be dependent on his will for the necessaries of life. But even when monopolised—in the sense of being limited in quantity—land will command a price only if it exists in less quantity than the demand, and no land ever pays rent unless, in point of fertility and situation, it belongs to those superior kinds which exist in less quantity than the demand.
Any land yields just so much more than the ordinary profits of stock as it yields more than what is returned by the worst land in cultivation. The surplus is what is paid as rent to the landlord. The standard of rent, therefore, is the excess of the produce of any land beyond what would be returned to the same capital if employed on the worst land in cultivation, or, generally, in the least advantageous circumstances.
III.—Of Exchange and Value
Of the two great departments of political economy, the production of wealth and its distribution, value has to do with the latter alone. The conditions and laws of production would be unaltered if the arrangements of society did not depend on, or admit of, exchange.
Value always means in political economy value in exchange, the command which its possession gives over purchasable commodities in general; whereas, by the price of a thing is understood its value in money.
That a thing may have value in exchange two conditions are necessary. It must be of some use—that is, it must conduce to some purpose, and secondly, there must be some difficulty in its attainment. This difficulty is of three kinds. It may consist in an absolute limitation of supply, as in the case of wines which can be grown only in peculiar circumstances of soil, climate, and exposure; in the labour and expense requisite to produce the commodity; or, thirdly, the limitation of the quantity which can be produced at a given cost, to which class agricultural produce belongs, increased production beyond a certain limit entailing increased cost.
When the production of a commodity is the effect of labour and expenditure, there is a minimum value, which is the essential condition of its permanent production, and must be sufficient to repay the cost of production, and, besides, the ordinary expectation of profit. This may be called the necessary value. When the commodity can be made in indefinite quantity, this necessary value is also the maximum which the producers can expect. If it is such that it brings a rate of profit higher than is customary, capital rushes in to share in this extra gain, and, by increasing the supply, reduces the value. Accordingly, by the operation of supply and demand the values of things are made to conform in the long run to the cost of production.
The introduction of money does not interfere with the operation of any of the laws of value. Things which by barter would exchange for one another will, if sold for money, sell for an equal amount of it, and so will exchange for one another, still through the process of exchanging them will consist of two operations instead of one. Money is a commodity, and its value is determined like that of other commodities, temporarily by demand and supply and permanently by cost of production.
Credit, as a substitute for money, is but a transfer of capital from hand to hand, generally from persons unable to employ it to hands more competent to employ it efficiently in production. Credit is not a productive power in itself, though without it the productive powers already existing could not be brought into complete employment.
In international trade we find that the law that permanent value is proportioned to cost of production does not hold good between commodities produced in distant places as it does in those produced in adjacent places.
Between distant places, and especially between different countries, profits may continue different, because persons do not usually remove themselves or their capital to a distant place without a very strong motive. If capital removed to remote parts of the world as readily, and for as small an inducement, as it moves to another quarter of the same town, profits would be equivalent all over the world, and all things would be produced in the places where the same labour and capital would produce them in greatest quantity and of best quality. A tendency may even now be observed towards such a state of things; capital is becoming more and more cosmopolitan.
It is not a difference in the absolute cost of production which determines the interchange between distant places, but a difference in the comparative cost. We may often by trading with foreigners obtain their commodities at a smaller expense of labour and capital than they cost to the foreigners themselves. The bargain is advantageous to the foreigner because the commodity which he receives in exchange, though it has cost us less, would probably have cost him more.
The value of a commodity brought from a distant place does not depend on the cost of production in the place from whence it comes, but on the cost of its acquisition in that place; which in the case of an imported article means the cost of production of the thing which is exported to pay for it. In other words, the values of foreign commodities depend on the terms of international exchange, which, in turn, depend on supply and demand.
It may be established that when two countries trade together in two commodities the exchange value of these commodities relatively to each other will adjust itself to the inclinations and circumstances of the consumers on both sides in such manner that the quantities required by each country of the article which it imports from its neighbour shall be exactly sufficient to pay for one another, a law which holds of any greater number of commodities. International values depend also on the means of production available in each country for the supply of foreign markets, but the practical result is little affected thereby.
IV.—On the Influence of Government
One of the most disputed questions in political science and in practical statesmanship relates to the proper limits of the functions and agency of governments. It may be agreed that they fall into two classes: functions which are either inseparable from the idea of government or are exercised habitually by all governments; and those respecting which it has been considered questionable whether governments should exercise them or not. The former may be termed the necessary, the latter the optional, functions of government.
It may readily be shown that the admitted functions of government embrace a much wider field than can easily be included within the ring-fence of any restrictive definition, and that it is hardly possible to find any ground of justification common to them all, except the comprehensive one of general expediency; nor to limit the interference of government by any universal rule, save the simple and vague one that it should never be admitted but when the case of expediency is strong.
A most important consideration in viewing the economical effects arising from performance of necessary government functions is the means adopted by government to raise the revenue which is the condition of their existence.
The qualities desirable in a system of taxation have been embodied by Adam Smith in four maxims or principles, which may be said to have become classicaclass="underline"
(1) The subjects of every state ought to contribute to the support of the government as nearly as possible in proportion to their respective abilities; that is, in proportion to the revenue which they respectively enjoy under the protection of the state.
(2) The tax which each individual has to pay ought to be certain, and not arbitrary. A great degree of inequality is not nearly so great an evil as a small degree of uncertainty.