During the Civil War the price of iron went up to something like $130 per ton. Even at that figure it was not so much a question of money as of delivery. The railway lines of America were fast becoming dangerous for…
During the Civil War the price of iron went up to something like $130 per ton. Even at that figure it was not so much a question of money as of delivery. The railway lines of America were fast becoming dangerous for…
Adam Smith:The Wealth of Nations, Book I, Chapter XI, Paragraph 562
Adam Smith《The Wealth of Nations》· Book I, Chapter XI · Investing
But the ordinary proportion between the respective values of two commodities is not necessarily the same as that between the quantities of them which are commonly in the market. The price of an ox, reckoned at ten guineas, is about three score times the price of a lamb, reckoned at 3s. 6d. It would be absurd, however, to infer from thence, that there are commonly in the market three score lambs for one ox; and it would be just as absurd to infer, because an ounce of gold will commonly purchase from fourteen or fifteen ounces of silver, that there are commonly in the market only fourteen or fifteen ounces of silver for one ounce of gold.
During the Civil War the price of iron went up to something like $130 per ton. Even at that figure it was not so much a question of money as of delivery. The railway lines of America were fast becoming dangerous for…
Soon after this Mr. John Hay, a fellow-Scotch manufacturer of bobbins in Allegheny City, needed a boy, and asked whether I would not go into his service. I went, and received two dollars per week; but at first the…
Henry Ford《My Life and Work》· My Life and Work · Leadership
One of the counsels of caution is to be very certain that we do not mistake a reactionary turn for a return of common sense. We have passed through a period of fireworks of every description, and the making of a great many idealistic maps of progress. We did not get anywhere. It was a convention, not a march. Lovely things were said, but when we got home we found the furnace out. Reactionaries have frequently taken advantage of the recoil from such a period, and they have promised "the good old times"--which usually means the bad old abuses--and because they are perfectly void of vision they are sometimes regarded as "practical men." Their return to power is often hailed as the return of common sense.