Political economy

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Monograph

Identifikator:: 867647221

URN:: urn:nbn:de:zbw-retromon-93157

Document type:: Monograph

Author:: Chapman, Sydney John http://d-nb.info/gnd/123743141

Title:: Political economy

Place of publication:: London [u.a.]

Publisher:: Williams & Norgate [u.a.]

Year of publication:: 1912

Scope:: 1 Online-Ressource (255 Seiten)

Collection:: Economics Books

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p PROBLEMS OF DISTRIBUTION 225 the poor. You may behold extravagance—it is a vice ; but that very extravagance circu lates money, and the vice of one contributes to the happiness of many. The only vice which is not redeemed by producing commen surate good, is avarice. If all were equal, there would be no arts, no manufactures, no industry, no employment. As it is, the inequality of the distribution of wealth may be compared to the heart, pouring forth the blood like a steam-engine through the human frame, the same blood returning from the extremities by the veins, to be again propelled, and keep up a healthy and vigorous circulation.” The fallacy betrays itself at once when we remind ourselves that we cannot be ultimately de pendent for employment on other people’s wants, because we have all quite sufficient of our own to keep us fully occupied in satisfying them. Yet there are those to-day who follow the lead of Marryat’s hero along one line of thought and maintain that the excessive saving of the rich — which is sometimes represented as forced upon them because it is maintained that they simply cannot spend in proportion to what they get—is withholding employment from the poor. But saving which is not hoarding is indirect spending—spending on productive instruments which make things

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