“A demand for commodities is not a demand for labor. The demand for labor is determined by the amount of capital directly devoted to the remuneration of labor: the demand for commodities simply determines in what direction labor shall be employed.” AmountDemandEconomicsLaborDetermineDeterminedDevotedCommodityEmployedRemuneration Author:Millicent Fawcett
“capital is the result of saving, and not of spending. The spendthrift who wastes his substance in riotous living decreases the capital of the country, and therefore the excuse often made for extravagance, that it is good for trade, is based upon false notions respecting capital.” MadeCountryResultsWasteEconomicsTradeNotionExcuseSpendingSavingSubstanceDecreaseExtravaganceSpendthrift Book:Political Economy for Beginners Source: Political Economy for Beginners
