...classical economists were aware of is involved in a thoroughgoing study of what they called natural values. Reduce society to a stationary state, let industry...freedom, make labor and capital absolutely mobile — as free to move from employment to employment as they are supposed to be in the theoretical world...

...and profits, are, in reality, static rates. They are identical with those which would be realized if a society were perfectly organized, but were free from the disturbances that progress causes. Far more than classical economists were aware of is involved in a thorough-going study of what they...

...of supply possible at the end of the given period, other things equal; it is inaccurately expressed. society were perfectly organized but were free from the disturbances that progress causes." The static standard is defined by supposing " that all dynamic influences should cease at once, while...

...which would be realized if a 1 Principles of Economics, p. 379. References are to the sixth edition. society were perfectly organized but were free from the disturbances that progress causes." The static standard is defined by supposing " that all dynamic influences should cease at once, while...

...postulate therefore was preferable if one could eliminate all minor disturbances. And so we are told: "Reduce society to a stationary state, let industry...freedom, make labor and capital absolutely mobile — as free to move from employment to employment as they are supposed to be in the theoretical world...

...from the uncertainties that go with progress. 'Reduce society to a stationary state,' says JB Clark, 'let industry go on with entire freedom, make labor.... . and you will have a regime of natural values.' 2 In such a society, natural rates would be static rates; prices would never fluctuate; business forecasters...

...and profits are, in reality, static rates. They are identical with those which would be realized if a society were perfectly organized, but were free from the disturbances that progress causes." Clark urged that in time, economics would require a dynamic theory to accompany his static one. The...

...economists were aware of is involved in a thoroughgoing study of what they called natural values. Eeduee society to a stationary state, let industry go on...freedom, make labor and capital absolutely mobile — as free to move from employment to employment as they are supposed to be in the theoretical world...

...from the uncertainties that go with progress. ' Reduce society to a stationary state,' says JB Clark, 'let industry go on with entire freedom, make labor...mobile . . . and you will have a regime of natural values.'2 In such a society, natural rates would be static rates; prices would never fluctuate; business...