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.

90 POLITICAL ECONOMY of analysis the distinction between them has a certain value. Capital is not an original agent in production. It is the product of land, labour, organising and saving. Immense discussion has taken place over the question of what it is most appropriate to regard as capital. For our requirements it is sufficient to think of it as wealth which is not consumed to afford immediate gratification but is on the contrary applied to further production. Its value in the form of ships, factories, engines and machinery will not be questioned. The efficiency of labour is of fundamental im portance, not merely with a view to the creation of wealth, but also with regard to intangible social well-being. The efficiency of labour is governed by natural and social conditions, the duration of work, wages, and labour’s prospects. A bracing climate makes a lusty and active population. Work which is mono tonous, or excessively exhausting, is bound to cause all-round deterioration of a people’s vital forces. Dreariness in one’s environ ment breeds general listlessness, and a foul atmosphere and other insanitary conditions undermine strength and generate disease. Wages and their spending have obviously a direct bearing upon efficiency and so also has the outlook of people. Divested of all chances

Access restriction

Copyright

fullscreen: Political economy

Monograph

Table of contents

Download

Monograph

This page

Image fragment

Citation links

Citation recommendation