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Manufacturing skill worth the price paid for it
Page
88
Disadvantageous exchange of rude produce for manufactures
Manufactures create cities and towns
Contrast of our Southern and Northern States in this respect
Growth of freedom and wealth in cities and towns
89
90
91
THE INCREASE OF CAPITAL AS AFFECTED BY THE ADVANTAGES
AND REWARDS WHICH ARE HELD OUT TO THE POSSESSORS
OF WEALTH
104
105
106
Civilization depends on the strength of this desire.
Accumulation is rapid when profits are high
Low rates of interest in Holland and England
All classes enabled to make savings.
Great effects of the aggregate of small savings
Savings of the poor larger than those of the rich
Statistics of Savings' Banks.
CHAPTER X.
THE INCREASE OF CAPITAL AS AFFECTED BY THE POLITICAL AND
SOCIAL ADVANTAGES ATTENDING THE POSSESSION OF WEALTH
Fixity of ranks and classes a bar to the growth of wealth
Influence of castes in Egypt and India
Mobility of society among the Greeks and Romans
Slaves not much used for profit by the ancients
Ancient Italy cultivated chiefly by freemen
Caste excluded from the free cities in the Middle Ages
Contrast of town and country in those times
Great prosperity of the republican cities
Striking effects of the absence of caste here in America
Different aspect of society in England
Uniform partition of wealth would create general torpor
Inequality is a law of human nature
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126
The true policy of society
Equality would not promote happiness
Joint-stock companies take the place of large capitalists
Unfounded prejudices against such corporations
The demand generally regulates the supply
Land and population not subject to this law.
Ambiguity in the doctrine of Malthus
Indefinite power of increase of the human race
Rate of increase in the United States
The means of subsistence increase but slowly
Comparison of the two rates
Causes of the more rapid increase in modern times
Reasoning of Malthus on these facts
Gloomy consequences of his theory
Effects of different standards of living
The theory may be applicable in a remote futurity
No excess of population at present
The density of population in Europe
More mouths compensated by more hands
Irish misery not caused by over-population
Barbarous races tend to die out
Civilized ones seek wealth, not food
Commerce equalizes the supply of food everywhere
Hence, the whole earth is made to feed any nation
The amount, not of food, but of wealth, limits population
Causes of the famine of 1847
Why more food is not now produced
Mankind can never multiply up to the real limit
Ambiguous meaning of the word "tendency"
Use of this ambiguity by the Malthusians
Subsistence really tends to outrun population
CHAPTER XII.
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137
THE PRINCIPLES WHICH REGULATE THE GROWTH OF POPULATION 155
Motives to marriage and celibacy
.
Causes of rapid increase in a new country
Statistical proofs of this law.
The preventive check operates even in Massachusetts
Misery favors the growth of population
Necessaries, decencies, and luxuries defined
Varying use of these words by different classes
b*
156
157
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162
CHAPTER XIII.
THE THEORY OF RENT.
Three leading theories of English political economy
Ricardo's theory of rent explained
164
165
This theory of rent a supplement to the Malthusian theory
170
Its gloomy consequences
171
Opposite views of the course of Providence
172
Both theories suggested by the peculiar state of England
An increase of population not always injurious
The theory contradicted by American experience.
And therefore inapplicable elsewhere
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Poorer soils not brought into tillage by enlarged population
Nearness to market, more than fertility, affects rent.
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Origin of the English doctrine of
wages
Low
wages do not prove excess of population
194
But indicate excessive numbers in the class dependent on wages
Emigration from one State to another
Natural standard of wages in America
Two causes of the depreciation of wages here
The immigration of foreigners
Statistics and causes of the immigration
The Irish exodus
High wages alone attract immigrants
Small effect of the depopulation of Ireland on wages there
Irish misery the effect of free trade with England
Effect of Irish competition on American labor
The field for employing industry contracted.
Ruinous effects of abandoning the protective policy
Consequences of the ruin of the iron manufacture.
Wages and profits sinking to the English standard
CHAPTER XV.
Restraints on admission to the professions
In England, different grades of labor resemble castes
Poor Laws obstruct the circulation of labor
Head-money or bonds required of immigrants
Difficulty of transferring labor
The division of labor unfits persons for emigration
The case of household manufactures
And of female labor
CHAPTER XVI.
THE CIRCUMSTANCES WHICH DETERMINE THE RATE OF PROFITS
Exchangeable value resolved into Wages, Profits, and Rent
But labor alone creates value
Ricardo's doctrine of profits
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THE RATE OF PROFIT AS AFFECTED BY THE LIMITED EXTENT OF
THE FIELD FOR THE EMPLOYMENT OF CAPITAL: THE THEORY
OF GLUTS
252
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