Download The Theory of Idle Resources: A Study in Definition by William Harold Hutt PDF

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By William Harold Hutt

E-book by way of Hutt, William Harold

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E. the process of investment in them); or (ii), because early employment may destroy their powers and hence the value of their services later; or (iii), because leisure is demanded on their behalf as an end in itself; or (iv), because their unpaid domestic service inside the home is worth more to their parents than they could add to the family earnings from work outside; or 1 It is not necessary, as our argument in the previous paragraph made clear, that the costs of housing, feeding and clothing such convicts should be covered by what they can be made to earn,' in order to take them outside the category of 'valueless resources'.

II. One can conceive of Circumstances in which resources as a whole could fall in price without any of them falling valueless; and it is even possible for the range of valuable resources to increase whilst the general tendency is for prices to fall. g. in the case of land, technical inventions might confer value on land which was formerly outside the margin but at the same time cause the aggregate value of land to fall. That is, the inventions could render the poorer types of land relatively valuable.

Apparatus provided by competing retailers of that commodity. The services ofthe equipment they possess may, in sparse districts, be actually demanded for a very small proportion of the day or week only. But if the relations of the retailers are truly competing, the occasionally used equipment represents no waste or unwanted duplication. It is continuously providing the service of 'availability'.

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