Publisher's Synopsis
This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1897 edition. Excerpt: ... CHAPTER XII OF VARIATIONS IN THE SOCIAL INCOME, RESULTING FROM THE COMMUNICATION OF MARKETS 87. In Chapter X we investigated the effects of the communication of markets on the determination of prices and the incomes of producers; we now mean to take up, according to the same principles which underlay the theory developed in the preceding chapter, how communication, how commerce between two markets, or, if it is preferred, the exportation of commodities from one market to another, causes the value of the social income to vary, as well in the importing as in the exporting market. This question derives an especially strong interest when commercial relations between different peoples are considered, as being essentially subject to the regulating action of governments. For the term social income there may then be substituted national income, which, however, will not denote the income which the government of a nation derives from taxation, and which serves to pay public expenses, but the sum total of individual incomes, of rents, of profits, and of wages of every kind, in the whole extent of the national territory. Here we are evidently approaching the question, with a view to which all systems of political economy have, so to speak, been constructed; the question which for two centuries has been discussed by theorists and by statesmen. We have not the temerity to approach it from the statesman's standpoint; but, on the other hand, we believe that this question, when considered in its theoretical aspect, can be reduced to very simple terms, of which the mere statement, by overthrowing false systems, opens the way to the practical knowledge which essentially concerns the destiny of nations. It is on this account that the considerations which we...
