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Capitalist Enterprise and Social Progress (Collected Works by Maurice Dobb

By Maurice Dobb

Half 1 of this quantity analyses the most matters within the thought of utilized Economics. half 2 surveys the increase of capitalist firm and exhibits the significance of yes associations within the progress and dealing of the industrial method initially of the 20th century. The concluding chapters rigidity the relevance of those issues to the issues dealing with politicians and administrators.

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‘A singularly great and stimulating piece of monetary analysis.’ Birmingham Post

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Additional resources for Capitalist Enterprise and Social Progress (Collected Works of Maurice Dobb, Volume 1)

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His actions would, in turn, be influenced, since finding a narrowing market he would tend to reduce his demand price for such constructional goods-tools, machines and buildings-as he needed, and for new loans from those who usually adventured their savings in his concern. Each would play his part automatically in the general economic organism, merely by reacting instinctively to any change in price, curtailing or extending his operations as the case might be. It seems to follow, that under such conditions economic welfare would be best served as a rule by a system of free trade within the bounds of the community.

Instead in the next chapter a description will be attempted of the entrepreneur function which needs to be fulfilled, irrespective of the concrete method by which any society may try to do so. CHAPTER THREE THE ENTREPRENEUR FUNCTION IF we assume a differentiated industrial society-a society based on modern machine technique and the extensive division of labour which characterizes it-we shall have made an assumption about the nature of the economic system, which is independent of the manner in which property is owned or in which industrial administration is arranged.

Most of the results obtainable by this way, however,-if the judgment be not too hasty-seem already to have been yielded; and since it is not the only approach, the suggestion of another is, perhaps, not unreasonable. Moreover, the method is not free from certain disadvantages. It involves the assumption, borrowed from the silence of classical economy, that the undertaker's work is identical with the ideal, except in the cases explicitly named in the course of analysis. In the early stages of investigation such an hypothesis is perfectly justifiable; but in proportion as the inyestigation is successful in disclosing exceptions, the hypothesis itself becomes progressively less warranted.

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