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The first every-day duty of a man is to earn his own living. This he must do by Work, which obtains from Nature the physical basis of life and by saving and exchange produces Wealth. With this business of Work and Wealth, Economics has to do. Some writers define it as the science of Production, others as the science of Wealth, others as the science of Exchange. It may be called also the science of Gain, because the purpose and result of all production and exchange, the end of economic man, is gain. The name Economics (from 02x00, the house, and to manage or give law) means household management, or in the wider sense, the management of the Common wealth, as the good 'old phrase calls the State. For the State is in deed founded on homes it is the family which is the economic unit. A man takes to himself a wife, who may or may not earn, and begets children; it is What all in the home earn, less what all spend, that leaves wealth 3 these hostages to fortune, in Bacon's phrase, anchor a man's economic position in the home. It is in the wider sense, as relating to the Commonwealth, that Economics has usually been known as Political Economy.
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Paperback. Condizione: New. Print on Demand. This book delves into the fascinating realm of economics, the science that explores how individuals and societies manage their resources. The author, a respected economist, provides a comprehensive understanding of the complex interplay between work, wealth, production, and distribution. The book begins by highlighting the fundamental role of work in creating the physical basis of life and the material goods that sustain us. It then examines the concept of wealth, the accumulated fruits of labor that have value in exchange. The author explores the diverse nature of wealth, encompassing both tangible assets and the intangible assets of human skill and knowledge. The discussion moves on to the critical topic of production, the process by which raw materials are transformed into usable goods. The author analyzes the factors that influence the efficiency and effectiveness of production, including the organization of labor, technological advancements, and the allocation of resources. Finally, the book delves into the intricate web of distribution, the process by which the wealth created through production is allocated among different individuals and groups. The author explores the concepts of land ownership, capital investment, labor compensation, and entrepreneurial profit, and examines the complex interplay of these factors in shaping the distribution of wealth. Throughout the book, the author weaves in historical and contemporary examples to illustrate economic principles and their real-world implications. By presenting a balanced and accessible overview of economics, this book empowers readers to navigate the complexities of the modern economy and make informed decisions about their financial well-being. This book is a reproduction of an important historical work, digitally reconstructed using state-of-the-art technology to preserve the original format. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in the book. print-on-demand item. Codice articolo 9781330290293_0
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