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                <text> A Theory of Political Economy </text>
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                <text>Éléments d'économie politique pure</text>
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                <text>Specimen theoriae novae de mensura sortis</text>
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              <text>"Nothing is more common than to hear of the advantages which the land possesses over every other source of useful produce, on account of the surplus which it yields in the form of rent. Yet when land is most abundant, when most productive, and most fertile, it yields no rent; and it is only when its powers decay, and less is yielded in return for labour, that a share of the original produce of the more fertile portions is set apart for rent. It is singular that this quality in the land, which should have been noticed as an imperfection, compared with the natural agents by which manufacturers are assisted, should have been pointed out as constituting its peculiar pre-eminence. If air, water, the elasticity of steam, and the pressure of the atmosphere, were of various qualities; if they could be appropriated, and each quality existed only in moderate abundance, they as well as the land would afford a rent, as the successive qualities were brought into use. With every worse quality employed, the value of the commodities in the manufacture of which they were used would rise, because equal quantities of labour would be less productive. Man would do more by the sweat of his brow, and nature perform less; and the land would be no longer pre-eminent for its limited powers." - Chapter 2&lt;br /&gt;&lt;br /&gt;“a new tax too may destroy the comparative advantage which a country before possessed in the manufacture of a particular commodity" - Chapter 19</text>
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                <text>Under free trade, an agent will produce more of and consume less of a good for which they have a comparative advantage.</text>
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                <text>David Ricardo</text>
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                <text>On the Principles of Political Economy and Taxation</text>
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              <text>"1) What is to be done, that is what goods and services are to be produced, and in what proportions;&#13;
&#13;
2) Organizing production, in the narrow sense, of getting done the things settled as most worth doing;&#13;
&#13;
3) Distribution, the apportioning the products among members of society;&#13;
&#13;
4) Maintaining and improving the social structure, Promoting social progress;&#13;
&#13;
5) To Adjust Consumption to Production within Very Short Periods"&#13;
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                <text>Five Functions of Economic Systems</text>
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                <text>Frank Knight</text>
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                <text>The Economic Organization</text>
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              <text>&lt;span&gt;"We will say that the members of a collectivity enjoy &lt;/span&gt;&lt;i&gt;maximium ophelimity&lt;/i&gt;&lt;span&gt; in a certain position when it is impossible to find a way of moving from that position very slightly in such a manner that the ophelimity enjoyed by each of the individuals of that collectivity increases or decreases. That is to say, any small displacement in departing from that position necessarily has the effect of increasing the ophelimity which certain individuals enjoy, and decreasing that which others enjoy, of being agreeable to some, and disagreeable to others."&lt;/span&gt;</text>
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                <text>Vilfredo Pareto</text>
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                <text>Manual of Political Economy</text>
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              <text>"Where the trade-diverting effect is predominant, one at least of the member countries is bound to be injured, both may be injured, the two combined will suffer a net injury, and there will be injury to the outside world and to the world at large."</text>
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                <text>Jacob Viner&#13;
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                <text>The Customs Union Issue</text>
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              <text>"Where the trade-creating force is predominant, one of the member must benefit, both may benefit, the two combined must have a net benefit, and the world at large benefits; but the outside world loses, in the short run at least, and can gain in the long-run only as the result of the general diffusion of the increased prosperity of the customs union area. "</text>
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              <text>"A&lt;span&gt;lready governments have frequently been called upon to support a manufacture which was threatened with ruin; and the more gluts in the market increase, the more the embarrassment of the manufacturer increases, the more frequently will this assistance be called for. Now, the suspension or the absolute cessation of work in a manufacture for which there is no longer any sale, is a first step towards the diminution of general suffering; the government ought, in fact, to come to the assistance of men, and not of industry; it ought to save its citizens, and not business. Far from making advances to the master manufacturer, &lt;/span&gt;&lt;span class="pb"&gt;&lt;span class="bracket"&gt;[&lt;/span&gt;221&lt;span class="bracket"&gt;]&lt;/span&gt;&lt;/span&gt;&lt;span&gt; to encourage him to manufacture to a loss, it ought largely to contribute funds to take the operatives from an employment which increases the embarrassment of all their fellow citizens. It ought to employ them in those public works whose products do not bear upon the markets, and do not increase the general glut. Public edifices, town-halls, markets, public walks, are native wealth, though not of a kind that can be bought and sold. Immense quantities of land may be recovered from water, on the sea-shore, along rivers, and by draining marsbes; the fertility of whole provinces may be doubled, quadrupled, by works of irrigation, which by means of canals circulate over the plains water borrowed from rivers; and to make these improvements throughout the whole extent of France, and which would cover it with a network of running water, might well employ, not only her industrial classes, but a quarter of her inhabitants for a long time to come."&lt;/span&gt;</text>
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                <text>Jean Charles Léonard de Sismondi</text>
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              <text>&lt;span&gt;"I have endeavoured to establish in the book which I shall soon present anew to the public, that for riches to contribute to the happiness of all, being, as they are, the sign of all the material enjoyments of man, their increase must be in conformity to the increase of population, and that they must be distributed among this population, in proportions which cannot be disturbed without extreme danger. I propose to show that it is necessary for the happiness of all, that income should increase with capital, and that the population should not go beyond the income upon which it has to subsist; that consumption should increase with the population, and that reproduction should be equally proportioned to the capital which produces it and to the population &lt;/span&gt;&lt;span class="pb"&gt;&lt;span class="bracket"&gt;[&lt;/span&gt;119&lt;span class="bracket"&gt;]&lt;/span&gt;&lt;/span&gt;&lt;span&gt; which consumes it. I show at the same time that each of these relations may be disturbed independently of the others; that income often does not inerease in proportion to capital; that population may increase without income being augmented; that a population more numerous, but more wretched, may require less for its consumption; that reproduction, in short, may be proportional to the capital to which it owes its returns, and not to the population which demands it; but that whenever any of these relations are disturbed, social suffering ensues."&lt;/span&gt;</text>
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