Excerpt from Outlines of a New Theory of Political Economy
It is evident that the supply of any thing of value must al ways be behind the demand. As every thing of value requires trouble to obtain it, either in direct efforts to procure it, or in some other Work to purchase it with, a man must feel his want of it before he will take the trouble to obtain it; and the trou ble necessary for the purpose, w'ill prevent him from supplying himself as abundantly, as if he could do so without trouble; that is, as if the article had no value. The supply therefore, which he is willing to provide, is less than his unchecked wishes would aspire to, that is, less than, or behind the demand.
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