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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78 POLITICAL ECONOMY ginal cost be lower ? In the theory, as we have put it, no answer is found to these questions ; demonstrably, then, the theory is leaky. To answer these questions must be our next task if our aim is completeness of theory. Our primary objective must be to bring to light the influences governing the sizes of businesses or firms. We shall take for study a firm which is not cramped for want of capital and which can obtain all the orders that it is capable of carrying out at a suffi ciently low cost. Let us try to imagine how the employer at the head of such a firm would be determined in laying down the limits of his business Though many firms are not organised on a private basis, but have been constructed as companies, or transformed into companies, or organised in the co-opera tive form, I speak of the “ employer ” at the head of the business, because the more complicated types of business organisation introduce no new elements which affect the character of the problem with which we are concerned, and it is a convenience to speak as if every business functioned under the direction or control of a single employer. The first thing to which attention must be summoned is the way in which the employer’s

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