The Economic Journal: The Quarterly Journal of the Royal Economic Society, Volume 37Macmillan, 1927 - Economics Contains papers that appeal to a broad and global readership in all fields of economics. |
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A. L. BOWLEY Adam Smith agreement agricultural American amount average banks British capital cartels census cent changes CHIG coal commercial Committee commodities competition considerable consumers cost cotton currency debt demand distribution economists effect estimate expenditure exports fact factor family allowances farming figures Finance fluctuations foreign gold Government important income increase industry interest investment Irish Free J. M. KEYNES labour land League of Nations less London Lord Olivier manufacture marginal costs ment method millions mines monetary organisation output payment period political population pre-war present principle problem production PROF profit quantity question R. H. TAWNEY reduced Reserve result revenue Royal Economic Society saving scheme social Society statistics supply tariff taxation theory tion trade trade union unemployment Union United UNIV University volume wage-earners wages wheat whole workers Zealand
Popular passages
Page 300 - Scotch are much handsomer; and that the English are great lovers of themselves, and of everything belonging to them; they think that there are no other men than themselves, and no other world but England; and whenever they see a handsome foreigner, they say that "he looks like an Englishman...
Page 118 - ... and condemned to be a fugitive from them in search of the great world of cultured romance, where could a satisfying retreat be discovered ? Not, surely, on this vulgar earth. It is enough to say that Mr. Brooks has made this unhappy pilgrimage as fascinating as one of Henry James's own romances. PFB A HISTORY OF ECONOMIC PROGRESS IN THE UNITED STATES. By Walter W. Jennings. New York : Thomas Y. Crowell Company, 1926. xvi, 819 pp. Recently text-book writers in the social sciences have been hoping,...
Page 355 - ... organisations engaged in wage bargaining by the development of unemployment insurance, wage rates have, over a wide area been set at a level which is too high...
Page 567 - The man at the margin who makes no profits, or who makes only the minimum profits which correspond to wages of management or recompense for the risk, pays no tax because he makes no profits or pays only a negligible tax upon these minimum profits " (A. 121). "It makes surely all the difference in the world whether we are or are not to reckon among the costs of the marginal producer, which ex hypothesi determine price, all such profits as may properly be regarded as wages of management or remuneration...
Page 574 - Principles, p. 818), and to the consideration of " the things which are not seen," might have been expected to give the business men a lead in this respect, and to point out that it makes no difference to the equilibrium attained whether the temporal sequence of events is (1) rise of price, (2) contraction of quantity demanded, (3) contraction of quantity supplied, or (1) contraction of quantity supplied, (2) rise of price, (3) contraction of quantity demanded. But instead the Committee preferred...
Page 500 - The trade between all the different parts of the British empire would, in consequence of this uniformity in the custom-house laws, be as free as the coasting trade of Great Britain is at present. The British empire would thus afford within itself an immense internal market for every part of the produce of all its different provinces.
Page 569 - The conclusion of economic analysis," he writes (A. 68), " is thus that, while the broad trend of price is governed by the lowest or most efficient 2 cost of production, that cost including normal profit and therefore such portion of normal profit as is taken by taxation of income, this stage is rarely reached in the actual conditions of life. In these conditions, the temporary positions of demand and supply are the governing factors, and price is determined by the cost of the marginal products,...
Page 575 - I have sought in vain in Marshall's work for a direct expression of opinion on the effects of a general income tax. The nearest approach I can find is the following reply to the Questionnaire of the Royal Commission on Land Taxation (1897): "Generally speaking, the incidence of taxes on profits is widely and evenly diffused; they run over rapidly from one part of a trade to another and from one trade to other trades
Page 144 - Balances of Income and Expenditure in the Transactions (other than lending and repayment of capital) between the United Kingdom and All Other Countries.
Page 528 - Trusts, to maintain the smaller establishments. The following gives a pre-war comparison, from which the very small establishments are eliminated : — For France, the general form of the table at the Census of 1921 is similar. As regards this country, the only data available are those of the capitalisation of Joint Stock Companies. Over the period 1919 to 1925, of all companies registered, only 2-6 per cent, had a capitalisation of over £200,000, while over 67 per cent, were capitalised below £10,000.