By Jean-Baptiste Say
Read or Download Letters to Mr. Malthus on several subjects of political economy and on the cause of the stagnation of commerce, to which is added a catechism of political economy; or, familiar conversations on the manner in which wealth is produced, distributed, and cons PDF
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Additional info for Letters to Mr. Malthus on several subjects of political economy and on the cause of the stagnation of commerce, to which is added a catechism of political economy; or, familiar conversations on the manner in which wealth is produced, distributed, and cons
Malthus's Principles of Political Economy, p. 31. 40 LETTER II. " Why, Sir, they would be sold for a value every bit as great; for, after all, what would be thereby added to the sum of capital, would buy meat, beer, coats, shirts, shoes, furniture, for that class of producers whose savings had so enabled them to make purchases. But if they were to live on bread and water in order not to use their savings? That istosay,you suppose that they would generally bind themselves to an extravagant fast from mere wantonness, and without any object whatever!
Y our present circumstances, when capitals are quietly sleeping in the coffers of their proprietors. The bank of France alone possesses 223 millions of specie (about nine millions'of pounds 50 LETTER III. If he were there to meet with other inconveniences, he would again seek another theatre for his talents ; and different nations would be seen pouring forth upon each other their capitals and their labourers; that is to say, all that is requisite to raise human society to the highest pitch of prosperity, if it understood its true interests, and the means by which they may be promoted.
The whole capital has served to pay them ; * and it is the price which it has paid to them which has formed the incomes of all the producers. If the produce which has been obtained be worth * Some people imagine that when capital is employed in an undertaking the portion of this capital which is employed in purchasing raw material*, h sot employed in purchasing productive services. This in an error. Raw material itself is a product, which has no other value than thai which DM been imparted to it by productive services, which have made it a product j have given it a value.