The manufacture of yarn being at length full established, the demand for it became too great for the patentees to supply, and then they sold licenses very extensively, so that at least 60,000 l. has been expended in consequence of such grants. Mr. Arkwright and his partners have expended upwards of 30,000/. in buildings and machinery in Derbyshire, and above 4,000 /. in Manchester; and they have lost not less than 5,000 l. or 6.000 l. by injuries from mobs, and from fire. The saving of labour by this machinery is several hundred thousands per annum, and yet trade is so greatly increased, that many more people are employed, and can earn a comfortable maintenance, than were employed before. The same inventions maybe applied with equal advantage to prepare and spin wool.
Richard ArkwrightRelated topics
above advantage earn equal fire full great hundred length less lost machinery maintenance manufacture prepare sold spin trade wool yet annum labourRelated quotes
No sooner was the Baltic open to our merchants, than corn was bought up there for importation into England; at the same time the continent was glutted with English goods, which, because the supply greatly exceeded the demand, were sold at less than their prime cost, and upon which the foreign governments soon laid new duties...to prevent the ruin of their own manufactures. This might have been a salutary lesson, if nations were ever rendered wise by experience; it might have taught us that, however willing one part of this nation might be to see the other ruined by the free admission of foreign grain, foreign governments would never consent to have their fabrics destroyed by the unrestricted introduction of British goods. It is a sound maxim in politics, whatever it may be in morals, that charity begins at home.
Robert Southey
The Age of Empty Freedom ... does not know that man must first through labour, industry, and art, learn how to know; but it has a certain fixed standard for all conceptions, and an established Common Sense of Mankind always ready and at hand, innate within itself and there present without trouble on its part;-and those conceptions and this Common Sense are to it the measure of the efficient and the real. It has this great advantage over the Age of Science, that it knows all things without having learned anything; and can pass judgment upon whatever comes before it at once and without hesitation,-without needing any preliminary evidence:-'That which I do not immediately comprehend by the conceptions which dwell within me, is nothing,'-says Empty Freedom.
Johann Gottlieb Fichte
But he, with these burthens on him, planned, commenced, and completed, the History of India; and this in the course of about ten years, a shorter time than has been occupied (even by writers who had no other employment) in the production of almost any other historical work of equal bulk, and of anything approaching to the same amount of reading and research. And to this is to be added, that during the whole period, a considerable part of almost every day was employed in the instruction of his children: in the case of one of whom, myself, he exerted an amount of labour, care, and perseverance rarely, if ever, employed for a similar purpose, in endeavouring to give, according to his own conception, the highest order of intellectual education.
John Stuart Mill
Perhaps there is nobody who would sacrifice his life for the sake of maintaining that the three angles of a triangle are together equal to two right angles, for such a truth does not demand the sacrifice of our life; but, on the other hand, there are many who have lost their lives for the sake of maintaining their religious faith. Indeed, it is truer to say that martyrs make faith than that faith makes martyrs. For faith is not the mere adherence of the intellect to an abstract principle; it is not the recognition of a theoretical truth, the process in which the will merely sets in motion our faculty of comprehension; faith is an act of the will - it is a movement of the soul towards a practical truth, towards a person, towards something that makes us not merely comprehend life, but that makes us live.
Miguel de Unamuno
Traditionally, economic analysis treats the economic system as one of the givens. The term "design" in the title is meant to stress that the structure of the economic system is to be regarded as an unknown. An unknown in what problem? Typically that of finding a system that would be, in a sense to be specified, superior to the existing one. The idea of searching for a better system is at least as ancient as Plato's Republic, but it is only recently that tools have become available for a systematic, analytical approach to such search procedures. This new approach refuses to accept the institutional status quo of a particular time and place as the only legitimate object of interest and yet recognizes constraints that disqualify naive Utopias.
Leonid Hurwicz