By Guy Routh (auth.)
ISBN-10: 0333353005
ISBN-13: 9780333353004
ISBN-10: 1349173487
ISBN-13: 9781349173488
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Additional info for Economics: An Alternative Text
Sample text
A. Hobson when he wrote his book, Imperialism, a Study. (London: Allen & Unwin, 1902; revised ed. ) He examined the spectacular growth of empires, which by then were in some cases vastly larger than the metropolitan countries that governed them. The mania for geographical expansion Hobson ascribed to 'those conditions of modern capitalist production which compel an ever keener "fight for markets"'. (Ibid. p. ) From the point of view of nations, this struggle is misguided. 'There is no necessary limit to the quantity of capital and labour that can be employed in supplying the home markets, provided the effective demand for the goods that are produced is so distributed that every increase of production stimulates a corresponding increase of consumption'.
The mania for geographical expansion Hobson ascribed to 'those conditions of modern capitalist production which compel an ever keener "fight for markets"'. (Ibid. p. ) From the point of view of nations, this struggle is misguided. 'There is no necessary limit to the quantity of capital and labour that can be employed in supplying the home markets, provided the effective demand for the goods that are produced is so distributed that every increase of production stimulates a corresponding increase of consumption'.
Beef 20 lb. potatoes 3lb. butter 3! lb. sugar 2oz. tea 2oz. coffee 3lb. flour 7 quarts ale 7 quarts milk lib. soap i lb. 6 Source: Factories Inquiry Commission Second Report, 1833, p. 170. 88, all for a day's work. 2. 4 IMPERIALISM The industrial revolution replaced green fields by noisome cities and, out of the toil of children who sprouted like mushrooms from the mould, amassed fortunes for the few and a comfortable living for officials, administrators and the white-collar and professional workers who served them.
Economics: An Alternative Text by Guy Routh (auth.)
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