In exchanging present for anterior labour, the advantage is on
the side of present labour, 178.
The opposite phenomenon sometimes manifests itself, 179.
‹Laissez-faire›, doctrine of, explained, 48, 448, 449.
‹Lamennais, M. de›, his opinions on the principle of population
combated, 408, 409.
‹Landed Property.› The idea of value gives rise to that of
property, 249.
Confusion caused by Economists mistaking utility for value, 250.
Property represented as monopoly, 250, 251.
Is not a monopoly, 251.
Opinions of English Economists on this subject—Adam Smith
quoted, 252;
Buchanan quoted, 252, 253;
Ricardo’s opinion, ‹ib.›;
M’Culloch’s views, 253;
Scrope and Senior quoted, ‹ib.›;
opinions of Mill and Malthus referred to, 254;