The purchaser of British silk encourages British industry
For everybody sees the gains which are made by A's tradesmen, servants, and others, while his money is spending. B's savings, on the contrary, pass into the hands of the person whose stock he purchased, who with it pays a debt he owed to some banker, who lends it again to some merchant or manufacturer; and the capital being laid out in hiring spinners and weavers, or carriers and the crews of merchant vessels, not only gives immediate employment to at least as much industry as A employs during the whole of his career, but coming back with increase by the sale of the goods which have been manufactured or imported, forms a fund for the employment of the same and perhaps a greater quantity of labour in perpetuity. roger vivier
But the observer does not see, and therefore does not consider, what becomes of B's money; he does see what is done with A's: he observes the amount of industry which A's profusion feeds; he observes not the far greater quantity which it prevents from being fed; and thence the prejudice, universal to the time of Adam Smith, that prodigality encourages industry, and parsimony is a discouragement to it.roger vivier official
The common argument against free trade was a fallacy of the same nature. The purchaser of British silk encourages British industry; the purchaser of Lyons silk encourages only French; the former conduct is patriotic, the latter ought to be interdicted by law. The circumstance is overlooked, that the purchaser of any foreign commodity necessarily causes, directly or indirectly, the export of an equivalent value of some article of home production (beyond what would otherwise be exported), either to the same foreign country or to some other; which fact, though from the complication of the circumstances it cannot always be verified by specific observation, no observation can possibly be brought to contradict, while the evidence of reasoning on which it rests is irrefragable.roger vivier bag
But the observer does not see, and therefore does not consider, what becomes of B's money; he does see what is done with A's: he observes the amount of industry which A's profusion feeds; he observes not the far greater quantity which it prevents from being fed; and thence the prejudice, universal to the time of Adam Smith, that prodigality encourages industry, and parsimony is a discouragement to it.roger vivier official
The common argument against free trade was a fallacy of the same nature. The purchaser of British silk encourages British industry; the purchaser of Lyons silk encourages only French; the former conduct is patriotic, the latter ought to be interdicted by law. The circumstance is overlooked, that the purchaser of any foreign commodity necessarily causes, directly or indirectly, the export of an equivalent value of some article of home production (beyond what would otherwise be exported), either to the same foreign country or to some other; which fact, though from the complication of the circumstances it cannot always be verified by specific observation, no observation can possibly be brought to contradict, while the evidence of reasoning on which it rests is irrefragable.roger vivier bag