economics in one lesson the shortest and surest way to understand basic economics phần 3 potx

... which the latter often ignored. But in themselves ignoring or slighting the long-run effects, they are making the far more serious error. They overlook the woods in their precise and minute examination ... trees. Their methods and conclusions are often profoundly reac- Part One THE LESSON 3 II 13 i9 27 30 4i 56 63 . 68 7i 85 9i ioo 107 u6 125 137 1 43 159 1 63...

Ngày tải lên: 14/08/2014, 22:21

... demand for automobiles and other goods. The supply of motor cars constitutes the demand of the people in the automobile in- dustry for wheat and other goods. All this is inherent in the ... up. Then these temporarily favored industries will, relatively, have to shrink again, to allow other industries filling other needs to grow. It is important to keep in...

Ngày tải lên: 14/08/2014, 22:21

... jobs. The real result of the machine is to increase ¶roàucûon, to raise the standard of living, to increase economic welfare. THE CURSE OF MACHINERY 43 the end of the nineteenth century the stocking ... saved in direct wages to for- mer coat makers, he now has to pay out in indirect wages to the makers of the new machine, or to the workers in an- 5¤ E...

Ngày tải lên: 14/08/2014, 22:21

... without reducing the length of the working week. They could, in other words, have worked the same number of hours and got their total weekly incomes increased l·y one- third, in- stead of merely getting, ... sweaters, and British consumers are better provided with motor cars and washing machines. 3 Now let us look at the matter the other way round, and see the eff...

Ngày tải lên: 14/08/2014, 22:21

... other hand, of late years they have taken to putting more obstacles in the way of export- ing gold than in the way of exporting anything else: but that is another story.) Now the ... this capital and labor of liberty of choice. It forces investors to place their money where the returns seem less promising to them than in the X industry. It forces workers...

Ngày tải lên: 14/08/2014, 22:21

... increased supply, then the driving out of the marginal farmers on the marginal land enables the good farmers on the good land to expand their production. So there may be, in the long run, no ... stimulates them to increase their pro- duction. It leads others to stop making some of the products they previously made, and turn to making the product that offers th...

Ngày tải lên: 14/08/2014, 22:21

... to them, and force them to take something worse. The strikers are therefore insist- ing on a position of privilege, and are using force to main- tain this privileged position against other ... are looking for permanent jobs and willing to accept them at the old rate, then they are workers who would be shoved into worse jobs than these in order to enable the strik...

Ngày tải lên: 14/08/2014, 22:21

... of employers and investors. The investors once had liquid funds. But they have put them, say, into the railroad business. They have turned them into rails and roadbeds, freight cars and locomotives. Once ... there is an inevitable corollary of this. If the money that they have invested in railroads now yields less than money they can invest in other lines, the investors will...

Ngày tải lên: 14/08/2014, 22:21

... that the government prints money to pay war contractors. Then the first effect of these expenditures will be to raise the prices of supplies used in war and to put additional money into the hands ... by printing money. They sense that there must be a catch somewhere; so they would limit in some way the amount of additional money they would have the govern- i88 ECONO...

Ngày tải lên: 14/08/2014, 22:21

... thousands of bartenders out of business. A decline in gambling would force crou- piers and racing touts to seek more productive occupations. 214 ECONOMICS IN ONE LESSON another way of saying ... the workers who use the new machines it increases their real wages in a double way by increasing their money wages as well. A typical illustration is the automobile bu...

Ngày tải lên: 14/08/2014, 22:21