economics in one lesson the shortest and surest way to understand basic economics phần 7 pps

... 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 ... $50 more to spend with other merchants, and these in turn will have $50 more to spend with still other merchants, and so ad infinitum. The smashed window will go...

Ngày tải lên: 14/08/2014, 22:21

... usually careful in their investigations to determine the adequacy of the assets pledged and the business acumen and honesty of the borrower. If the government operated by the same strict standards, there ... wealth and income in terms of money, they consider themselves better off as these monetary totals i8 ECONOMICS IN ONE LESSON tional income" figures...

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¤ EC...

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, ... serious student of economics to throw up his hands in despair. What possible point can there be, he is likely to ask, in discussing refinements and advances in...

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 ... That in fact is one reason why it is not good to bring such protected interests into existence in the first place. But clarity and candor of thinking compel us to see and...

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