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‘oD

ON THE CAUSES

cerned, and those in which there are separate
interests.
In the first case, “the competition,” (as
Mr. Ricardo justly remarks) is wholly on one
side — amongst the buyers. The monopoly
price,” he continues, “of one period, may be
much lower or higher than the monopoly price
of another, because the competition amongst the
purchasers must depend on their wealth, and
their tastes and caprices. Those peculiar wines
which are produced in very limited quantity,
and those works of art, which from their ex-
cellence or rarity have acquired a fanciful value,
will be exchanged for a very different quantity
of the produce of ordinary labour, according as
the society is rich or poor, as it possesses abun-
dance or scarcity of such produce, or as it may
be in a rude or polished state*.”

The second kind of monopoly differs from

* Principles of Political Economy and Taxation, p. 290,
third edition