large/11381/principles_political_economy_1812_librivox_64kb_mp3/principlesofpoliticaleconomy_03_mill_64kb_84
large/11381/principles_political_economy_1812_librivox_64kb_mp3/principlesofpoliticaleconomy_03_mill_64kb
English
11381
The writer, however, who has drawn most attention, at home and abroad, for a vigorous attack on the doctrines of Ricardo is Henry Charles Carey.(92) Beginning with "The Rate of Wages" (1835), he developed a new theory of value (see "Principles of Political Economy," 1837 1840), "which he defined as a measure of the resistance to be overcome in obtaining things required for use, or the measure of the power of nature over man. In simpler terms, value is measured by the cost of reproduction. THE WRITER HOWEVER WHO HAS DRAWN MOST ATTENTION AT HOME AND ABROAD FOR VIGOROUS ATTACK ON THE DOCTRINES OF RICARDO IS HENRY CHARLES CAREY BEGINNING WITH THE RATE OF WAGES EIGHTEEN THIRTY FIVE HE DEVELOPED A NEW THEORY OF VALUE SEE PRINCIPLES OF POLITICAL ECONOMY EIGHTEEN THIRTY SEVEN EIGHTEEN FORTY WHICH HE DEFINED AS A MEASURE OF THE RESISTANCE TO BE OVERCOME IN OBTAINING THINGS REQUIRED FOR USE OR THE MEASURE OF THE POWER OF NATURE OVER MAN IN SIMPLER TERMS VALUE IS MEASURED BY THE COST OF REPRODUCTION
ade any additions to the science, and only Hamilton and Gallatin can properly be called economists. Hamilton, in his famous “Report on Manufactures” (1791), shared in some of the erroneous conceptions of his day; but this paper, together with his reports on a national bank and the public credit, are evidences of a real economic power. Gallatin’s “Memorial in Favor of Tariff Reform” (1832) is as able as Hamilton’s report on manufactures, and a strong argument against protection. Both men made a reputation as practical financiers. “With few exceptions, the works produced in the United States have been prepared as text-books(89) by authors engaged in college instruction, and therefore chiefly interested in bringing principles previously worked out by others within the easy comprehension of undergraduate students.”(90) Of these exceptions, Alexander H. Everett’s “New Ideas on Population”(91) (1822), forms a valuable part in the discussion which followed the appearance of Malthus’s “Essay.”  NONE HAVE MADE ANY ADDITIONS TO THE SCIENCE AND ONLY HAMILTON AND GALATON CAN PROPERLY BE CALLED ECONOMISTS HAMILTON IN HIS FAMOUS REPORT ON MANUFACTURERS SEVENTEEN NINETY ONE SHARED IN SOME OF THE ERRONEOUS CONCEPTIONS OF HIS DAY BUT THIS PAPER TOGETHER WITH HIS REPORTS ON A NATIONAL BANK AND PUBLIC CREDIT ARE EVIDENCES OF A REAL ECONOMIC POWER GALATON'S MEMORIAL IN FAVOR OF TERRA FIR FORM EIGHTEEN THIRTY TWO IS AS ABLE AS HAMILTON'S REPORT ON MANUFACTURERS AND A STRONG ARGUMENT AGAINST PROTECTION BOTH MEN MADE A REPUTATION AS PRACTICAL FINANCIERS WITH FEW EXCEPTIONS THE WORK PRODUCED IN THE UNITED STATES HAVE BEEN PREPARED AS TEXT BOOKS BY AUTHORS ENGAGED IN COLLEGE INSTRUCTION AND THEREFORE CHIEFLY INTERESTED IN BRINGING PRINCIPLES PREVIOUSLY WORKED OUT BY OTHERS WITH AN EASY COMPREHENSION OF UNDERGRADUATE STUDENTS OF THESE EXAMPLES ALEXANDER H EVERETTS NEW IDEAS ON POPULATION EIGHTEEN TWENTY TWO FORMS A VALUABLE PART IN THE DISCUSSION WHICH FOLLOWED THE APPEARANCE OF MALTHUS ESSAY
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