The Evil of the Millionaire

Paperback | February 3, 2012

byFrancis Minton

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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. 1908. Excerpt: ... CHAPTER IV CAPITAL Section 14. What is capital, and what are its functions in production? So far from this question having been answered in a way to receive general acceptance, it would be no easy task to find two authorities who entirely agree. There is just one point, however, upon which there is tolerable unanimity. Almost all are agreed that capital consists of natural things (materials and forces) and human exertion. The confusion commences, and soon becomes hopeless, when search is made among authorities to find what particular commodities are capital, and what the function of capital is in production. The social welfare greatly depends upon finding the correct answer to this question. There appears nothing for it but to search once again for the answer, proceeding with 3S the extreme caution which such an intricate subject demands. What is capital? I submit capital is property in use for trade purposes. Capital, then, is the proprietary right to the product of past or to the anticipated result of future labour, intended to be used, or in the course of use, as a means of exchange of property. As property is measured by its exchange value, capital is measured by the value of the property comprising it. Section 15. All capital must be property, but all property is not capital. The distinction does not lie in the property, but in the manner of its use. It has been pointed out that property is a right in some person to enjoy as he pleases some particular thing. The enjoyment may be accomplished, as we have seen, in two ways. 1. The owner may use his property directly for the gratification of his desires. In this case it is not capital. 2. The owner may use his property as a means of exchange, so gratifying his desire for possession of something he wishe...

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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. 1908. Excerpt: ... CHAPTER IV CAPITAL Section 14. What is capital, and what are its functions in production? So far from this question having bee...

Format:PaperbackDimensions:38 pages, 9.69 × 7.44 × 0.08 inPublished:February 3, 2012Publisher:General Books LLCLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0217278647

ISBN - 13:9780217278645

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