Political economy

Bibliographic data

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

Usage license:: Get license information via the feedback formular.

DEMAND 47 as of his independent individuality, but also that an individual’s system of demand, taken as a whole, tends to settle into a particular form. Some appreciable shock is needed to shake it out of this form. Hence it is common to say that expenditure is settled by standards of life. By a standard of life is meant the common form which expenditure tends to assume in any given class of the community, or the modes of disposing of income which are typical of a class. For some purposes it is convenient to distinguish between the indi vidual’s standard of living and the standard of living of the class to which he belongs. The former is usually a species of the latter—the latter modified by his idiosyncrasies. It is only in exceptional cases that the standard of any person is actually in conflict with the standard of his class. The individual’s standard is largely settled by his habits, and habitual action is universally more difficult to modify than action which is not habitual. I intend now, despite its alleged difficulty, to introduce a conception about which there has been much controversy, but one which, nevertheless, in my opinion, is likely to play in the future a leading part both in the develop ment of economic theory and in the practical application of economic teaching. It is one

Access restriction

Copyright

fullscreen: Political economy

Monograph

Table of contents

Download

Monograph

This page

Image fragment

Citation links

Citation recommendation