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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WAGES, PROFITS AND INTEREST 185 given industry there is a fixed number of employers. As they are equally efficient and enjoy alike the confidence of capitalists, they will have businesses of about the same size, employing the same number of work-people— any difference of ideas which the employers might have in the matter of the proportions in which the factors in production are best organized being disregarded for the moment. Then each employer would get for himself the difference between the total receipts for his output and his total outlay, the total outlay being made up of the payment for land or premises, cost of any necessary material and accessories, interest on capital and wages for labour. It has to be proved that this differ ence will normally be a positive quantity ; that after all expenses of production are paid there will be something left over. That something may be left over can be demonstrated from what we have learnt already in Chapter III. Let us picture to ourselves the doings of an employer who, after starting a business on a very small scale, gradually expands it, and consider, in the light of the generalisations already laid down with reference to production, how expenses will be affected by an increase of the output. Because in the larger business more division

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