Political economy Book Reviews
Political economy by W. Stanley Jevons Book Summary
There are many portions of Economical doctrine which appear to me as scientific in form as they are consonant with facts. I would especially mention the Theories of Population and Rent, the latter a theory of a distinctly mathematical character, which seems to give a clue to the correct mode of treating the whole science. Had Mr. Mill contented himself with asserting the unquestionable truth of the Laws of Supply and Demand, I should have agreed with him. As founded upon facts, those laws cannot be shaken by any theory; but it does not therefore follow, that our conception of Value is perfect and final. Other generally accepted doctrines have always appeared to me purely delusive, especially the so-called Wage Fund Theory. This theory pretends to give a solution of the main problem of the science to determine the wages of labour; yet, on close examination, its conclusion is found to be a mere truism, namely, that the average rate of wages is found by dividing the whole amount appropriated to the payment of wages by the number of those between whom it is divided. Some other supposed conclusions of the science are of a less harmless character, as, for instance, those regarding the advantage of exchange (see the section on "The Gain by Exchange").
Book Name | Political economy |
Genre | Politics & Current Events |
Author | W. Stanley Jevons |
Published | 22 July 2010, Thursday |
Language | English |
E-Book Size | 137 KB |
Political economy (W. Stanley Jevons) Book Reviews 2024
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Summary of Political economy by W. Stanley Jevons
The Political economy book written by W. Stanley Jevons was published on 22 July 2010, Thursday in the Politics & Current Events category. A total of 176 readers of the book gave the book 0 points out of 5.
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