Capital and Interest: A Critical History of Economical Theory

Macmillan and Company, 1890 - 431 ページ

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Yet interest and sacrifice by no means invariably correspond
a rustic choosing to fish instead of shoot
Reasons for the popularity of this theory Cairnes Cherbuliez
The English Group
And if interest is explained by these painful exertions why does
Difference between the two illustrated by a parallel case land
but might be justified as a political measure of expediency
An inevitable consequence of the Labourvalue theory
and cannot buy even his own product at what it cost him
that goods economically considered are
Nevertheless Rodbertus would not abolish rent
But as Rodbertus explains it he would have the labourer
And that one labourer working continuously for five years pro
Dividing what they produce as wage as before the first receives
overlooks Eicardos exception of those goods which require
unless we suppose it effected by alteration in wage which
But most clearly by the good old illustration of the maturing
Money transformed into com
Adam Smith indeed spoke of the equivalence of Value
And in goods that exchange is there always labour?
Later on Marx falls into all Rodbertuss mistakes such as claim
Jevons finding the function of capital in enabling the labourer
This is to identify surplus in products with surplus in value Pro
J S Mill includes profita among costs of production
Criticising Bastiats illustration he indicates that the cause
As to 2 it is not first in the final distribution that a foreign

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378 ページ - The real price of every thing, what every thing really costs to the man who wants to acquire it, is the toil and trouble of acquiring it.
72 ページ - As soon as stock has accumulated in the hands of particular persons, some of them will naturally employ it in setting to work industrious people, whom they will supply with materials and subsistence, in order to make a profit by the sale of their work, or by what their labour adds to the value of the materials.
381 ページ - If among a nation of hunters, for example, it usually costs twice the labour to kill a beaver which it does to kill a deer, one beaver should naturally exchange for or be worth two deer. It is natural that what is usually the produce of two days...
381 ページ - In that early and rude state of society which precedes both the accumulation of stock and the appropriation of land, the proportion between the quantities of labour necessary for acquiring different objects seems to be the only circumstance which can afford any rule for exchanging them for one another.
71 ページ - In exchanging the complete manufacture either for money, for labour, or for other goods, over and above what may be sufficient to pay the price of the materials, and the wages of the workmen, something must be given for the profits of the undertaker of the work, who hazards his stock in this adventure.
73 ページ - In this state of things, the whole produce of labour belongs to the labourer; and the quantity of labour commonly employed in acquiring or producing any commodity, is the only circumstance which can regulate the quantity of labour which it ought commonly to purchase, command, or exchange for.
317 ページ - I think it will be but a very modest computation to say that of the products of the earth useful to the life of man, nine-tenths are the effects of labour...
317 ページ - Nor is it so strange as, perhaps, before consideration, it may appear, that the property of labour should be able to overbalance the community of land, for it is labour indeed that puts the difference of value on everything; and let any one consider what the difference is between an acre of land planted with tobacco or sugar, sown with wheat or barley, and an acre of the same land lying in common without any...
411 ページ - As the wages of the labourer are the remuneration of labour, so the profits of the capitalist are properly, according to Mr. Senior's well-chosen expression, the remuneration of abstinence. They are what he gains by forbearing to consume his capital for his own uses, and allowing it to be consumed by productive labourers for their uses. For this forbearance he requires a recompense.
411 ページ - The cause of profit is, that labour produces more than is required for its support. The reason why agricultural capital yields a profit, is because human beings can grow more food, than is necessary to feed them while it is being grown...