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Interference With Foreign Trade: A Supplementary Chapter to Elements of Political Economy (Classic Reprint) - Softcover
Excerpt from Interference With Foreign Trade: A Supplementary Chapter to Elements of Political Economy
This is in fact the service contemplated in the argument above mentioned - that Protection enables capital to be invested at home. It is invested at home in businesses confessedly too weak to live without it. We are told that, even if they be weak, they are carried on in this country to the encouragement of trade in their whole neighbourhood, whereas capital invested abroad gives three-fourths of its benefits to the foreign place where it is invested. The case is again analogous to the case of machinery. To use the power-loom in place of the hand-loom is to do in an hour what might have employed many men for days. But to do it by hand-loom is to do it in a needlessly costly manner, and therefore to waste labour. Instead of creating abundance among our people, we might give work and wages, and profits and rent, to a very few in a corner of the kingdom, at the cost of all the rest of the population. Imports are a discouragement not of labour but of useless labour. If instead of making an article we import it, we are not dis pensed from making the equivalent in which to pay for it; but the labour of making the equiva lent is on the assumptions a less costly labour and therefore better for all concerned.
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This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
This is in fact the service contemplated in the argument above mentioned - that Protection enables capital to be invested at home. It is invested at home in businesses confessedly too weak to live without it. We are told that, even if they be weak, they are carried on in this country to the encouragement of trade in their whole neighbourhood, whereas capital invested abroad gives three-fourths of its benefits to the foreign place where it is invested. The case is again analogous to the case of machinery. To use the power-loom in place of the hand-loom is to do in an hour what might have employed many men for days. But to do it by hand-loom is to do it in a needlessly costly manner, and therefore to waste labour. Instead of creating abundance among our people, we might give work and wages, and profits and rent, to a very few in a corner of the kingdom, at the cost of all the rest of the population. Imports are a discouragement not of labour but of useless labour. If instead of making an article we import it, we are not dis pensed from making the equivalent in which to pay for it; but the labour of making the equiva lent is on the assumptions a less costly labour and therefore better for all concerned.
About the Publisher
Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com
This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
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About the Author:
James Bonar (1852-1941) was an English economist and a leading authority on Malthus and Adam Smith.
"About this title" may belong to another edition of this title.
- PublisherForgotten Books
- Publication date2020
- ISBN 10 1332418554
- ISBN 13 9781332418558
- BindingPaperback
- Number of pages42
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Interference With Foreign Trade (Classic Reprint)
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Book Description Paperback. Condition: New. Print on Demand. Excerpt from Interference With Foreign Trade. About the Publisher, Forgotten Books publishes hundreds of thousands of rare and classic books. This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works. This text has been digitally restored from a historical edition. Some errors may persist, however we consider it worth publishing due to the work's historical value. The digital edition of all books may be viewed on our website before purchase. print-on-demand item. Seller Inventory # 9781332418558_0
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Interference With Foreign Trade : A Supplementary Chapter to Elements of Political Economy (Classic Reprint)
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