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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104 POLITICAL ECONOMY might pay to sell a small quantity at a high price. It can be proved that differential charges can be arranged so as to benefit the public. Without them much less use would be got out of railways and there would be an immense loss of consumers’ surplus. Coal can be carried cheaply just because certain other things are carried only at high freight rates. Some services, indeed, could not be provided at all were differential charges not permitted. However, we must be careful to observe that the adoption with reference to anything of the discriminative system of fixing prices is by no means bound to prove beneficial to the community, and that public interests must consequently be watched with a jealous eye when it is introduced or revised. We must not run away with the idea that a monopolist has a perfectly free hand to fix any price or scale of prices that suits him best. He is ultimately dependent upon the goodwill of the public—or, at least, on the absence of an intense degree of ill-will. People can find more or less satisfactory substitutes for most things, and will be moved to do so if they think they are being robbed by extortionate charges. Moreover, the modern State has to make a legitimate

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