512 Mr TOZER, ON THE EFFECT OF MACHINERY 



When this becomes negative, the fund for the employment of labour 

 will have become greater than it would have been if the machinery had 

 not been constructed, that is, when 



1—tn. % — - J 



(f—\ ?», k 



This advantage will increase by the addition of 



annually, and will continue to increase indefinitely. 



We may in these formula, substitute for the produce in terms of 



the price. 



1 — o"' 

 We have /3r = C5^, /»ir, = ^ = Cg'. j-^^rr^; 



rj_^P: l-g' 

 r Pi'i-q'" 



«=c,|£-i)l^ 



-r 



q-" 



It may be observed that pi cannot be >p; if it were, more than the 

 ordinary profit would arise from employing labour, and the machine 

 would be superseded. 



In general the motive of the capitalist in supplanting labour by 



machinery, is to procure for his capital more than the ordinary profit. 



o' -1 

 If, then, he can raise his rate of profit to q^, A^ = C. ^ z^ will be the 



