By Chordia, Sarkar
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Additional resources for An Empirical Analysis Of Stock And Bond Market Liquidity
Lamartine has advanced one argument which I cannot pass by in silence, for it is closely connected with this economic study. “The economical question, as regards theatres, is comprised in one word—labor. It matters little what is the nature of this labor; it is as fertile, as productive a labor as any other kind of labor in the nation. ” Your sympathies! Say rather your money. And further on he says: “The pleasures of Paris are the labor and the consumption of the provinces, and the luxuries of the rich are the wages and bread of 200,000 workmen of every description, who live by the manifold industry of the theatres on the surfeit of the republic, and who receive from these noble pleasures, which render France illustrious, the sustenance of their lives and the necessities of their families and children.
Citizen is obliged to lower the price of the thing produced by one franc, then he no longer realizes a saving; then he has no longer a franc to dispose of to procure for the national labor a new production. But then another gainer takes his place, and this gainer is mankind. Whoever buys the thing he has produced pays a franc less, and necessarily adds this saving to the fund of wages; and this, again, is what is not seen. Another solution, founded upon facts, has been given of this problem of machinery.
I cannot believe that mankind, as a whole, is deceiving itself upon a point which touches it so nearly. But let us now consider the subject. For 36 million citizens to go and fetch the corn they want from Odessa is a manifest impossibility. The first means, then, goes for nothing. The consumers cannot act for themselves. They must, of necessity, have recourse to intermediaries, officials or agents. But observe, that the first of these three means would be the most natural. In reality, the hungry man has to fetch his corn.