Therefore, statesmen, editors, and the public
generally, believe that scarcity is better than abundance.
But why is this; why should men be so blind as to maintain that
scarcity is better than plenty?
Because they look at _price_, but forget _quantity_.
But let us see.
A man becomes rich in proportion to the remunerative nature of his
labor; that is to say, _in proportion as he sells his produce at a
high price_. The price of his produce is high in proportion to its
scarcity. It is plain, then, that, so far as regards him at least,
scarcity enriches him. Applying, in turn, this manner of reasoning to
each class of laborers individually, the _scarcity theory_ is deduced
from it. To put this theory into practice, and in order to favor each
class of labor, an artificial scarcity is produced in every kind of
produce by prohibitory tariffs, by restrictive laws, by monopolies,
and by other analogous measures.
In the same manner it is observed that when an article is abundant, it
brings a small price. The gains of the producer are, of course, less.
Pages:
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25