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CONTENTS.
INTRODUCTION.
RISE AND PROGRESS OF THE SCIENCE.
Definition of the Science-its Importance-Causes of its being
neglected in Greece and Rome, and in the Middle Ages—
Evidence on which its Conclusions are founded-Rise of the
Science in Modern Europe-Mercantile System-System of
M. Quesnay and the French Economists-Publication of the
"Wealth of Nations" - Distinction between Politics and
Statistics and Political Economy,
Page
1
PART I.
PRODUCTION AND ACCUMULATION OF WEALTH.
CHAPTER I.
Definition of Production-Labour the only Source of Wealth,
CHAPTER II.
Progressive Nature of Man-Means by which the Productive
Powers of Labour are increased.-SECTION I. Right of Pro-
perty.-SECTION II. Division of Employments.—SECTION III.
Accumulation and Employment of Capital-Definition and
Source of Profit-Circumstances most favourable for the
Accumulation of Capital,
61
74
CHAPTER III.
Definition and Growth of Credit-Contributes to facilitate Pro-
duction by distributing Capital in the most advantageous
manner-Circulation of Bills, &c.,
CHAPTER IV.
Circumstances which led to the Introduction and Use of Money
-Qualities which a Commodity used as Money should pos-
sess-Coinage-Variations in the Value of Money-Intro-
duction and Use of Paper Money and Bills of Exchange,
CHAPTER V.
Division of Employments among different Countries, or Com-
merce- -Wholesale and Retail Dealers-Influence of Im-
proved Means of Communication-Mode in which Commerce
contributes to increase Wealth-Restrictions on Commerce,
for the Promotion of Domestic Industry and National Secu-
rity-Influence of these Restrictions-Duties on Imports,
CHAPTER VI.
Different Employments of Capital and Labour-Agriculture,
Manufactures, and Commerce, equally advantageous-The
Investment of Capital in different Businesses determined by
the Rate of Profit which they respectively yield-Manufac-
tures not productive of increased Mortality, nor unfavourable
to the Intelligence of the Work-people-Dangers incident
to the excessive growth of Manufactures—Influence of Com-
merce on Public Spirit,
CHAPTER VII.
Improvements in Machinery similar in their Effects to Im-
provements in the Skill and Dexterity of the Labourer-
Do not occasion a Glut of Commodities-Sometimes force
Workmen to change their Employments-Have no Tendency
to lessen, but most commonly increase the Demand for La-
bour-Case supposed by Mr Ricardo-Causes of Gluts-Not
occasioned by a deficiency of Money, but are frequently
occasioned by sudden changes in its Quantity and Value-
Circumstances which occasion Miscalculations on the Part
of the Producers,
125
131
139
171
197
CHAPTER VIII.
Population proportioned to the Means of Subsistence-Moral
Restraint-Capacity of the Principle of Population to repair
the Ravages of Plagues and Famines-Comparative Increase
of Population in New and Old-settled Countries-Law of
Increase a powerful Incentive to Industry-Promotes the
Civilisation and Happiness of Mankind-Practice of Infan-
ticide Foundling Hospitals,
CHAPTER IX.
Object of Insurance-Calculation of Chances-Advantages of
Insurance-Amount of Property Insured-Life Insurance;
Objections to, and Advantages of,
227
249
CHAPTER X.
Interference of Government with the Pursuits and Property of
Individuals—Cases in, and Objects for which such Inter-
ference is necessary- Limits within which it should be
confined,
PART II.
VALUE AND PRICE.
Exchangeable Value-How it is determined-Conditions re-
quired to render a Commodity invariable in its Exchangeable
Value-Cost or Real Value-How it is determined-Condi-
tions required to render a Commodity invariable in its Cost
-Quantity of Labour required to produce a Commodity
different from the Quantity for which it will exchange
Corn not invariable in its Value-Changes in the Value of
Money,
262
312
Cost of Production the grand regulating Principle of exchange-
able Value and Price-Influence of Variations in the De-
mand for and Supply of Commodities over Prices-Influence
of Monopolies-Average Price coincident with Cost of Pro-
duction,
328
Influence of Mercantile Speculations on Price-Difference be-
tween Speculation and Gambling - Speculations in Corn
beneficial to the Public, but dangerous to the Dealers-
Imitative Speculation-Influence of Knowledge on Specu-
lation,
336
Effect of the Employment of Capital in Production, and of
Variations in the Rates of Wages and Profits on Value-
(1) When the Capitals employed in Production are of the
same Degree of Durability; and (2) when they are of different
Degrees of Durability—A High Rate of Wages does not lay
the Commerce of a Country under any Disadvantage,
353
PART III.
DISTRIBUTION OF WEALTH.
Wages in the different Departments of Industry-Causes of
their Apparent Discrepancy-Really approach very near to
Equality,.
381
Circumstances which determine the Rate of Wages. SEC-
TION I. MARKET OR ACTUAL WAGES-Depend on the Pro-
portion between Capital and Population-Identity of the
interests of the Capitalists with those of the Labourers. SEC-
TION II. NATURAL OR NECESSARY WAGES-Depend on the
Species and Quantity of Food and other Articles required
for the Consumption of the Labourer. Different in different
Countries and Periods-Effect of Fluctuations in the Rate
of Wages on the Condition of the Labouring Classes -Ad-
vantage of a High Rate of Wages-Disadvantage of having
the Labourers dependent for support on the cheapest Species
of Food-Circumstances affecting the Condition of the La-
bourers-Education-Influx of Irish Labourers-Task-work
-Limiting the Hours of Labour-High Wages not a Cause of
Idleness-Comparative Cheapness of Free and Slave Labour.
SECTION III. PROPORTIONAL WAGES-Depend partly on the
Amount and Species of the Articles consumed by the La-
bourers, and partly on the Productiveness of Industry. SEC-
TION IV. DIFFERENCE IN THEIR INFLUENCE OVER WAGES
BETWEEN A DEMAND FOR LABOUR, AND A DEMAND FOR THE
PRODUCTS OF Labour, .
Impotent Poor should be provided for by a Poor's Rate-Ques-
tions as to the best means of providing for the Able-bodied
Poor-Arguments in favour of a Compulsory Provision—Ob-
jections to it-May be so administered as to obviate most of
these Objections-Operation of the English Poor Laws-
New Poor Law,
396
445
Education of the Poor-Importance of a National System of
Education-Difficulties in the way of its Establishment-
Influence of Friendly Societies and Savings Banks,
Conflicting Opinions with respect to the Origin of Rent-Theory
of Dr Anderson-Nature and Progress of Rent-Not a Cause
but a Consequence of the High Value of Raw Produce-
Does not enter into Price-Distinction between Agriculture
and Manufactures-Rents depend partly on the Extent to
which Tillage has been carried, and partly on Situation-
Inequality of Mischievous Operation of Taxes on Rent, .
Influence of Improvements-Slowness with which they spread
-Beneficial to all Classes-Different Methods of Letting
Lands-Remarks upon those Methods-Increase and Reduc-
tion of Rents-Regulations as to Management-Size of Farms
-Influence of the granting of the Elective Franchise to
Tenants over Agriculture-Profits of Farmers,
Division of the Produce of Industry, under Deduction of Rent,
between Capitalists and Labourers-Definition of Profits-Mr
Ricardo's Theory of Profits; Sense in which it is true-
473
482
503