perhaps, somewhat the worse for wear.

The damage, however, is not considerable. For in each case the
uncertainty arises only when we are dealing with one of the factors of
production, land, labor or capital, _regarded as a whole_. If we are
dealing with the capital available for a particular industry, a rise
in the rate of profit in that industry will certainly increase the
supply of capital available there; for it will tend to attract savings
that might otherwise have been employed elsewhere. We can even be
fairly sure that an increase in the general rate of interest
prevailing in any particular country will increase the total supply of
capital available for the businesses of that country, since capital
has in modern times acquired a considerable migratory power. In the
case of labor, we cannot go so far as this; but here, too, there is no
doubt that an increase in the remuneration offered in any particular
occupation will attract an increased labor supply (always supposing,
of course, that "other things are equal"). No similar difficulty
arises for land, labor or capital, as regards the effect of
price-changes on demand; while for ordinary commodities there is no
such difficulty on the side either of demand or of supply. Hence the
only qualification which the strictest accuracy would require us in
this connection to attach to our statement of Law II is the
postscript:--


"Except that, in the case of land, the aggregate supply is
unalterable; while in the case of capital or labor we cannot be
sure how price-changes will affect the aggregate supply."