Value and Distribution; An Historical, Critical, and Constructive Study in Economic Theory, Adapted for Advanced and Post-Graduate Work

Value and Distribution; An Historical, Critical, and Constructive Study in Economic Theory, Adapted for Advanced and Post-Graduate Work

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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. 1898 edition. Excerpt: ...raw materials, auxiliary materials, labor, and so on), there enters into the sum of value contained in the anticipated product the disposal over those goods that are required for the reduction or the use of capital. And since, on that account, in this sum of value there must remain something for the economical good we have called 'use of capital, ' the other means of production cannot account for the full amount of the value of the anticipated product. This is the origin of the difference in value between the concrete capital thrown into production and the product; and this at the same time is the origin of interest." This theory clearly rests upon the contention that there is a use of capital which is separate and distinct from that which is involved in the using up of the capital itself. It, therefore, follows that if this position cannot be maintained, the whole theory must be abandoned. 81. Criticism of Monger's Statement.--This theory seems to find some confirmation in our experience with durable consumption goods; as in the case of a rented house. The house itself or the capital is returned to the owner at the expiration of the lease, in spite of the fact that it has been a source of income during the entire period of the lease; it would here seem that there is a use of the house which is quite distinct from the using up of the house. If, however, the case of a more perishable good, as a plough, is examined, there is no difficulty in seeing that just as the rendering of services by the laborer involves a using up of human tissue, so the rendering of services by a material commodity involves the using up of its tissue. The only difference between the cases of perishable and durable goods lies in the fact that the perishable goods are...show more

Product details

  • Paperback | 72 pages
  • 189 x 246 x 4mm | 145g
  • Rarebooksclub.com
  • Miami Fl, United States
  • English
  • black & white illustrations
  • 1236533151
  • 9781236533159