Publications of the American Economic Association, Volum 4

Forside
Includes the Papers and proceedings of the annual meeting.
 

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Side 10 - Homer ruled as his demesne; Yet did I never breathe its pure serene Till I heard Chapman speak out loud and bold: Then felt I like some watcher of the skies When a new planet swims into his ken; Or like stout Cortez when with eagle eyes He stared at the Pacific— and all his men Looked at each other with a wild surmise— Silent, upon a peak in Darien.
Side 22 - ... is confined within narrow barriers, which cannot be passed, and the problem of their elevation is hopeless. As a body, they will not rise at all. A few, more energetic or more fortunate than the rest, will from time to time escape, as they do now, from the ranks of their fellows to the higher walks of industrial life, but the great majority will remain substantially where they are. The remuneration of labor, as such, skilled or unskilled, can never rise much above its present level.
Side 24 - I know not, in the whole range of language, terms sufficiently expressive to describe this infernal road. Let me most seriously caution all travellers who may accidentally propose to travel this terrible country, to avoid it as they would the devil, for a thousand to one they break their necks or their limbs by overthrows or breakings down.
Side 24 - They will here meet with ruts, which I actually measured, four feet deep, and floating with mud, only from a wet summer.
Side 38 - It seems to have been overlooked that the land is itself a stock or capital, advanced or lent by its owner to the occupier or tenant, and that the rent he receives is only the ordinary profit of a certain stock in land, not managed by the proprietor himself, but by another to whom he lends or lets it, and who, on his part, advances a second capital to stock and improve the land, upon which he also receives the usual profit.
Side 58 - The Fabian Society consists of Socialists. It therefore aims at the reorganization of society by the emancipation of land and industrial capital from individual and class ownership, and the vesting of them in the community for the general benefit.
Side 58 - ... works for the extinction of private property in Land and of the consequent individual appropriation, in the form of Rent, of the price paid for permission to use the earth, as well as for the advantages of superior soils and sites. The Society, further, works for the transfer to the community of the administration of such Industrial Capital as can conveniently be managed socially.
Side 36 - But why is this change described as 'the coming slavery'?" is a question which many will still ask. The reply is simple. All socialism involves slavery. What is essential to the idea of a slave?
Side 20 - We have been suffering for a century," says one "orthodox" Professor, " from an acute outbreak of individualism, unchecked by the old restraints, and invested with almost a religious sanction by a certain soulless school of writers."1 Economists fully recognize that this industrial anarchy cannot last. The ordinary middle-class citizen, like the average American, still believes that "free competition...
Side 24 - ... not only of their own political organization, but, through that, also of the main instruments of wealth production; the gradual substitution of organized cooperation for the anarchy of the competitive struggle; and the consequent recovery, in the only possible way, of what John Stuart Mill calls "the enormous share which the possessors of the instruments of industry are able to take from the produce.

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