1.5. Cities
Property owners who live far from their lands experience a reduction in income proportional to the cost of transporting their production to market.
Value and Exchange
Displaying 361 - 370 of 949
1.3. Villages
Cantillon explains that settlements are based on the requirements of production, especially the quantity of labor, and the extent of the specialization and division of labor.
1.10. The Price and Intrinsic Value of a Thing, in General, is the Measurement of the Land and Labor, which enter into its Production
Intrinsic value can be measured by the quantity of land and laborers, taking into account the quality of land and labor.
2.3. The Circulation of Money
The circular flow model of the economy explains the implications of international trade.
3.3. Further Explanations on the Nature of Exchanges
Exchange rates are a function of the balance of trade and other factors.
1.4. Market Towns
Entrepreneurs establish markets in centrally located villages which provide the necessary conditions under which prices are established between supply and demand.
1.14. The Desires, Fashions, and Ways of Life of the Prince, and especially of the Property Owners, Determine the Use to which Land is put in a State, and Cause the Variations in the Market Prices of all Things
Cantillon constructs a model of the isolated estate or closed economy where the choices of property owners determine outputs and prices, regardless if they manage the isolated estate or lease it to farmers.
2.7. Continuation of the same subject
Changes in the quantity of money will change relative prices and have real effects on the economy, a phenomenon now known as the "Cantillon Effects".
3.8. The Refinements of Credit of General Banks
Inflation is a corrupt process and can result in bank runs and economic chaos.
