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  • Open Daily: 10am - 10pm
    Alley-side Pickup: 10am - 7pm

    3038 Hennepin Ave Minneapolis, MN
    612-822-4611

Open Daily: 10am - 10pm | Alley-side Pickup: 10am - 7pm
3038 Hennepin Ave Minneapolis, MN
612-822-4611
Tales in Political Economy

Tales in Political Economy

Fawcett, Millicent Garrett

Paperback

Business General

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ISBN10: 115169696X
ISBN13: 9781151696960
Publisher: General Books
Pages: 72
Weight: 0.26
Height: 0.17 Width: 9.01 Depth: 5.98
Language: English
This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1874 edition. Excerpt: ...equal, and in this case the motive for trade carried on in this way ceases to exist. For when the islanders could obtain no more money for their goods in San Francisco than at home, they naturally preferred to sell them at home rather than to run the risk and to bear the delay of sending their commodities to a distant country. When foreign trade is not reciprocal (that is, when one country only sends commodities and is paid by the other in money) the advantage is all on one side, and therefore it has no permanence or stability; for the country which reaps no real advantage naturally gets tired of a trade from which it derives no benefit, and after a while such a trade is certain to cease. But when two countries exchange with each other the commodities which each has some comparative facility for producing, each country is permanently benefited, and therefore such a trade will be lasting and stable in its character. It is a first condition of any kind of permanent trade that each party to it shall be really benefited by the transaction; otherwise the one who is not benefited will withdraw from the trade, which would consequently come to an end. We have seen, then, that foreign trade, although the amount of it may be measured in money, must in reality be an exchange of commodities for commodities. But we have scarcely yet inquired what commodities? It will perhaps be thought that each country will always send away those commodities for the production of which she has greater facilities than the other country to which the commodities are sent. For instance, Isle Pleasant has a great advantage over San Francisco in the production of plantains. Plantains can be grown on the island with one-fourth the labour that it would be necessary to employ to...

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