Compte rendu des travaux de la Chambre Syndicale pendant lʹannée 1926

Bibliographic data

Monograph

Identifikator:: 1759941719

URN:: urn:nbn:de:zbw-retromon-137382

Document type:: Monograph

Title:: Compte rendu des travaux de la Chambre Syndicale pendant lʹannée 1926

Place of publication:: Marseille

Publisher:: Soc. Anonyme du Sémaphore de Marséille

Year of publication:: 1927

Digitisation:: 2021

Collection:: Economics Books

Usage license:: Get license information via the feedback formular.

Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Documents Annexes

Collection:: Economics Books

70 POLITICAL ECONOMY first enunciate the abstract law and the corresponding abstract law of decreasing returns and briefly justify them, and after wards proceed to enunciate and explain the realistic uniformities. Abstractly the law of increasing returns affirms that when an industry enlarges there must be increasing returns (that is to say, the marginal cost of production must fall), pro vided—and this is a significant point—that there is no dearth of agents in production at least equal in quality to those engaged at the old margin. The truth of this generalisation will be immediately apparent. When the industry enlarges all parts of its working will tend to become more specialised, and special ism will tend more thoroughly to interpenetrate the industries subsidiary to it. Specialising is economical, so, if nothing happens to counteract its effects, the marginal cost of production must fall. Now the only thing which could counteract its effects would be a limitation of suitable agents in production at least equal in economic value to those at the old margin ; and the possibility of this has been rejected. Hence the inevitable tendency to increasing returns in the circum stances described. But we must not, of course, jump to the conclusion that, when-

Access restriction

Copyright

fullscreen: Political economy

Monograph

Chapter

Table of contents

Download

Monograph

This page

Image fragment

Citation links

Citation recommendation