The Rationale of Reward |
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absolute monarchy Adam Smith advantage amount applied arts and sciences benefit bestowed bounty branch of trade burthen capital Catherine II CHAPTER colonies commerce competition considered crimes degree desirable diminished dity duty effect emoluments employed employment England English law Epinomis equally established evil example exemption expense favour furnish give given greater number honour increase individual inspec interest invention judge justice labour least legislator less Louis XIV manufactures matter of reward means ment motive nation natural price nature necessary object obtain offences offered operate opinion paid particular pecuniary pension performed perjury persons pleasure possess present principle produce productions consumed profit proportion punishment quantity reason receive rendered respect Reward latent-Exemplifications rule salary Salency sovereign species subsistence sufficient supposed thing tion truth uncon unwritten law usury utility vidual virtue wealth Wealth of Nations whilst
Popular passages
Page 323 - The legal rate, it is to be observed, though it ought to be somewhat above, ought not to be much above the lowest market rate. If the legal rate of interest in Great Britain, for example, was fixed so high as eight or ten per cent., the greater part of the money which was to be lent would be lent to prodigals and projectors, who alone would be willing to give this high interest.
Page 186 - And when Simon saw that through laying on of the apostles' hands the Holy Ghost was given, he offered them money, Saying ; Give me also this power, that on whomsoever I lay hands, he may receive the Holy Ghost.
Page 206 - Prejudice apart, the game of push-pin is of equal value with the arts and sciences of music and poetry.
Page 196 - The best and most frugal way of levying a tax can never be by farm. Over and above what is necessary for paying the stipulated rent, the salaries of the officers, and the whole expense of...
Page 207 - The poet must see everything through coloured media, and strive to make every one else to do the same. It is true, there have been noble spirits, to whom poetry and philosophy have been equally indebted; but these exceptions do not counteract the mischiefs which have resulted from this magic art. If poetry and music deserve to be preferred before a game of push-pin, it must be because they are calculated to gratify those individuals who are most difficult to be pleased.
Page 316 - ... definite economic stage, the highest one, which Great Britain has reached, but that in more primitive conditions its intervention must be regarded as desirable and indispensable. With this temporal, Bentham combined a geographical relativism: "There cannot be any incompatibility between the wealth of each and the wealth of all: but the same rule does not apply to subsistence and defence. Individuals may find their individual profit in commercial operations which may be opposed to the subsistence...
Page 324 - Britain, for example, was fixed so high as eight or ten per cent, the greater part of the money which was to be lent, would be lent to prodigals and projectors, who alone would be willing to give this high interest. Sober people, who will give for the use of money no more than a part of what they are likely to make by the use of it, would not venture into the competition. A great part of the capital of the country would thus be kept out of the hands which were most likely to make a profitable and...
Page 287 - ... on money, lent in the shape of capital within the country ... it would have the effect of a bounty on the exportation of it— on the exportation of it to any country where any rate of interest higher than the reduced rate would be to be had" (47). (4) Increasing land— viz., by colonisation. "When an excess of population in relation to territory exists or is foreseen, colonisation is a very proper measure. As a means of increasing the general wealth of a country, or of increasing the revenue...
Page 241 - Hence it follows, that the quantity of labour applicable to any object is limited by the quantity of capital which can be employed on it. If I possess a capital of £ 10,000...
Page 301 - When we shall have ceased to consider colonies with the greedy eyes of fiscality, the greater number of these inconveniences will cease of themselves. Let governments lay aside all false mercantile notions, and all jealousy of their subjects, and everything which renders their yoke burthensome will fall at once : there will no longer be any reason to fear hostile dispositions and wars for independence. If wisdom alone were listened to, the ordinary object of contention would be reversed — the mother-country...