chapter  3
Competition, prices and distribution
Pages 70

Mr. Malthus appears to understand, by his short phrase, ‘the principle of demand and supply’ something different from what I should, as a reader of Smith only, have understood it to mean: I should have said, it meant that principle, which tends to bring the respective prices of things into such a state as will equalize, as nearly as is possible, the profits, &c., obtained in the production of each. But that principle does not then determine, what that state is.