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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164 POLITICAL ECONOMY in the public interest against my own interest. Just as the advantages of home exchange and their distribution are measurable theoreti cally through the agency of consumers’ surplus, so are the advantages of international trade and their distribution. This may be said to indicate one of the many uses of the doctrine of consumers’ surplus, which, though it may be of speculative value only at the present time, may eventually be turned to practical account. Economics relates in the main to man’s attitude to the purchasable goods of the world, and therefore it is imperative to remind ourselves from time to time that all the goods of this world are not of such a kind. Indeed, it is the impalpable subjective things in life, without a price, which give to exchangeable goods their value. We cannot value books without culture, nor pictures without taste. In this chapter, then, some notice should be taken of the advantages of international trade which cannot be, or are not, expressed in pounds, shillings, and pence. As regards these we cannot do better than read Mill in one of his most eloquent passages, which will incidentally make it evident that his political economy was not, throughout at any rate, of

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