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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150 POLITICAL ECONOMY same time, be equalised throughout Lanca shire. In enunciating the proposition that within each of these areas earnings would be equalised, of course I mean to imply, in the case of capital, when allowance is made for difference between risks, and, in the case of labour, when allowance is made for differences in respect of the capacity of people and the general amenities and difficulties of the various occupations pursued. In this fanciful picture we have an exact representation of the conditions of the problem of international values. The next question to ask and answer, and one to which a convincing response can be given in a very short space, is why labour and capital are comparatively immobile internationally. The answer, as regards labour, is because patriotism, differences of language and national customs, and attach ment to the surroundings, both geographical and social, in which people have been born, naturally keep them at home, as a rule, unless great inducements are offered to them to change their country, and even against very great inducements. And, as regards capital, the answer is that the capitalist feels that his property is more secure when it is so located that he can watch its use,

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