Publisher's Synopsis
Excerpt from Labor Saving Machinery and Progress
One of the principal forms in which capital appears and is used in the production of commodities is in the shape of tools and implements. The more efficient tools and implements one uses, the easier his task will be, and the greater, also, will be the product of his labor. Upon this simple principle rests the usefulness of labor saving machinery, which is nothing but greatly improved tools and implements.
All productive labor is carried on for the purpose of satisfying human wants, and consequently, the more commodities the labor of the members of a soci ety produces, the better the wants of those members can be satisfied. If, in a less developed state of agri culture, for instance, it requires ten men to produce a thousand bushels of wheat, while in a more developed state with the same number nf laborers ten thousand bushels can be produced, it is plain that wheat will cost little more than one-tenth as much as formerly, thus enabling the members of that society to expend a large part of their earnings in the purchase of other commodities.
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