Commonsense Socialism; The Inadequacy Of The Reward Of Labour, The Depression Of Trade, And The…

Paperback | February 5, 2012

byN. Kempner

not yet rated|write a review
This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1887. Excerpt: ... CHAPTER X. The claims of capital.--What it gets actually and how.--Monopoly.--Credit.--Spoliation of labour.--Speculation. UR next task will be to trace the manner in which the results of material progress are conveyed to capital. For this purpose it will be necessary to investigate its proper claims. Incidentally we have already defined the ideas of " land" and " labour," the rewards of which are called "rent" and "wages." "Capital" we define as wealth devoted to the procurement of more wealth or, as Mr. George aptly puts it, "wealth in course of exchange," and its reward we call " interest." The usual justification of interest is Bastiat's well-known explanation by the power which exists in capital of increasing the productiveness of labour. Mr. George in his "Progress and Poverty,"after an exhaustive examination comes to the conclusion that this is not sufficient, and proposes to explain interest by a comparison with the natural forces of growth and improvement He says: "Suppose I put away wine. At the end of a year I will have an increased value, for the wine will have improved in quality. Or, supposing, where there is a range, I turn out sheep or hogs or cattle, at the end of the year I will upon the average also have an increase." There can be no doubt, that in these and similar cases there is an increase distinct and separable from that caused by labour, and, as wealth is interchangeable, the return expected in other cases must be on an average equal to that in such instances. The man who intends to invest capital, would rather JUSTIFICATION OF INTEREST. 149 buy sheep which would bring him an increase in the natural course, than lend it to some one else, if at the end of the year he received back nothing above the bare amount of capital lent. In o...

Pricing and Purchase Info

$27.50

On re-order online

From the Publisher

This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1887. Excerpt: ... CHAPTER X. The claims of capital.--What it gets actually and how.--Monopoly.--Credit.--Spoliation of labour.--Speculation. UR...

Format:PaperbackDimensions:106 pages, 9.69 × 7.44 × 0.22 inPublished:February 5, 2012Publisher:General Books LLCLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0217192998

ISBN - 13:9780217192996

Look for similar items by category:

Customer Reviews of Commonsense Socialism; The Inadequacy Of The Reward Of Labour, The Depression Of Trade, And The Organization Of Material Progress

Reviews