Every new advance of the price to the consumer is a new incentive to him to retrench the quantity of his consumption; and if, upon the whole, he pays the same, his property, computed by the standard of what he voluntarily pays, must remain the same.
Burke discusses the economic principle that rising prices lead consumers to reduce their consumption.
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The House of Lords, for instance, is not morally competent to dissolve the House of Commons,--no, nor even to dissolve itself, nor to abdicate, if it would, its portion in the legislature of the kingdom.
They look upon the legal hereditary succession of their crown as among their rights, not as among their wrongs,--as a benefit, not as a grievance,--as a security for their liberty, not as a badge of servitude.
A few years ago I should be ashamed to overload a matter so capable of supporting itself by the then unnecessary support of any argument; but this seditious, unconstitutional doctrine is now publicly taught, avowed, and printed.
So far is it from being true that we acquired a right by the Revolution to elect our kings, that, if we had possessed it before, the English nation did at that time most solemnly renounce and abdicate it, for themselves, and for all their…
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