large/11381/principles_political_economy_1812_librivox_64kb_mp3/principlesofpoliticaleconomy_03_mill_64kb_43
large/11381/principles_political_economy_1812_librivox_64kb_mp3/principlesofpoliticaleconomy_03_mill_64kb
English
11381
He next claimed to have discovered a law of increasing production from land in his "Past, Present, and Future" (1848), which was diametrically opposed to Ricardo's law of diminishing returns. His proof was an historical one, that in fact the poorer, not the richer lands, were first taken into cultivation. HE NEXT CLAIMED TO HAVE DISCOVERED A LAW OF INCREASING PRODUCTION FROM LAND IN HIS PAST PRESENT AND FUTURE EIGHTEEN FORTY EIGHT WHICH WAS DIAMETRICALLY OPPOSED TO RICARDO'S LAW OF DIMINISHING RETURNS HIS PROOF WAS A HISTORICAL ONE THAT IN FACT THE POORER NOT THE RICHER LANDS WERE FIRST TAKEN INTO CULTIVATION
which followed the appearance of Malthus’s “Essay.” 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 value of every article thus declines as the arts advance, while the general command of commodities constantly increases. This causes a constant fall in the value of accumulated capital as compared with the results of present labor, from which is inferred a tendency toward harmony rather than divergence of interests between capitalist and laborer.” This theory of value(93) he applied to land, and even to man, in his desire to give it universality. N WHICH FOLLOWED THE APPEARANCE OF MALTHUS ESSAY 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 THE VALUE OF EVERY ARTICLE THUS DECLINES AS THE ARTS ADVANCE WHILE THE GENERAL COMMAND OF COMMODITIES CONSTANTLY INCREASES THIS CAUSES A CONSTANT FALL IN THE VALUE OF ACCUMULATED CAPITAL AS COMPARED WITH THE RESULTS OF PRESENT LABOR FROM WHICH IS INFERRED A TENDENCY TOWARD HARMONY RATHER THAN DIVERGENCE OF INTEREST BETWEEN CAPITALIST AND LABORER THIS THEORY OF VALUE HE APPLIED TO LAND AND EVEN TO MAN IN HIS DESIRE TO GIVE IT UNIVERSALITY
large/11381/principles_political_economy_1812_librivox_64kb_mp3/principlesofpoliticaleconomy_03_mill_64kb
file
download/librilight/large/11381/principles_political_economy_1812_librivox_64kb_mp3/principlesofpoliticaleconomy_03_mill_64kb.flac