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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118 POLITICAL ECONOMY pieces of money are not wanted to keep but to pass on. However, to this objection it may be retorted that all the things that we buy are not goods which we retain per manently or for long. Many of the things really sought when we make purchases are the services associated with objects which are passed on to perform the same services for other people when so much of each service as we require has been used up by ourselves. When we habitually have recourse to railway trains, we do not and cannot buy them for our private use, but we take on each occasion from a public conveyance just as much of the service of transportation as we require. It is not only money that circulates, as it is put : railway trains and ships, and telegraph boys and hired waiters circulate also, and in circulating do work for which the community is ready to pay a price Let us consider next how the prices of these things that circulate are settled. In dealing, say, with the price of cabs in a community, we have to analyse the forces of demand and supply. Certain utilities con sisting in rides in cabs are demanded, and the supply with which we are primarily concerned is the supply not of cabs but of the services performed by cabs. These services, however,

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