518 Mk TOZER, on the EFFECT OF MACHINERY 



Therefore if D^ be the loss to the labour-fund at the end of the 

 jo"* year by employing the more durable machine, 



If w, = Mi = m = k = \; Di will be negative, and the labour-fund 

 will be increased at the end of the 1^' year, 



SiSMONDI. 



An improvement takes place in machinery which reduces prices 

 5 per cent. 



Suppose the produce the same. 



„, ,.^. . Cq 100 20 . ^ 19 



The condition gives -2- = "qs = \^' ^ = ^?'20' 



G = Cq-A = Cq.^, 

 D^ = C - m{A - C{q-1)} - G {rthk + m,(\ - k)\ p 

 = C\\-m(^^q-q + \)- ^^m^k + »«.(l-*)p]}. 



If m = ni, — m^ = A = i, and o = — . 



10 



„ „,, , 200-11 11 1,, ,, 

 ^^=<^5l-i.^OO--200-i(^ + '')^ 



411 



\i p > —— the labour-fund will have gained. 



Hence, after 38 years the amount spent in wages is greater than 

 it would have been if the improvement had not taken place, and 

 increases beyond this period to an indefinite amount. 



