CHAPTER 34
SUPPLY AND DEMAND

FOR the individuals who make up an economy the details that we have abstracted from our simplified model are more important than the outline which it is designed to exhibit. An entrepreneur is interested in the fate of his own business, which may well run counter to the development of the industry of which it is a part, and the fate of the industry may well run counter to the development of the whole economy. The worker is interested in the level of wages (and general conditions) in his own line of production, and the differences between wages in one line and another may be much greater than any change in the general level of wages that takes place in his lifetime. His wife is interested in the purchasing power of his wage packet, not over a notional composite commodity, but over the particular things she wants to buy. The owner of property is interested in the value of his particular sites or placements, not in the general level of rents or the total stock of capital. The slow long-run movements of the whole economy is concealed by the agitation of its parts, and scarcely comes over the horizon of consciousness for the people who live in it.

The short-period movement of the whole economy does impinge upon individuals, though even there particular parts of the economy are differently affected; every boom has its own character, and a boom may consist in the development of new commodities or new methods of production that are ruining some entrepreneurs and depriving some workers of a market for their special skill, so that the investment which is generating prosperity in the economy as a whole is a disaster for them. Some entrepreneurs flourish better in a slump than in a boom, because they have specialised on cheap substitutes for goods which fewer families can afford when incomes

-351-

Notes for this page

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items
Notes
Cite this page

Cited page

Style
Citations are available only to our active members.
Buy instant access to cite pages or passages in MLA 8, MLA 7, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

(Einhorn 25)

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Note: primary sources have slightly different requirements for citation. Please see these guidelines for more information.

Cited page

Bookmark this page
The Accumulation of Capital
Table of contents

Table of contents

Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this book

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen
Items saved from this book
  • Bookmarks
  • Highlights & Notes
  • Citations
/ 440

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Buy instant access to cite pages or passages in MLA 8, MLA 7, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    Buy instant access to save your work.

    Already a member? Log in now.

    Search by... Author
    Show... All Results Primary Sources Peer-reviewed

    Oops!

    An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.