[38377] in Discussion of MIT-community interests
President Announced- The Harp Program. save Thousands... Every Year on Your mortgage
daemon@ATHENA.MIT.EDU (Harp Program)
Sat Mar 28 09:12:32 2015
To: <mit-talk-mtg@charon.mit.edu>
Date: Sat, 28 Mar 2015 09:12:31 -0400
From: "Harp Program" <HarpProgram@charlor.eu>
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be prevented from developing the Exploitation theory out of their theory of value. Any one who cares to hunt up ancient pedigrees of theories might discover 7ea99ed1b6714702bd5343b786c98bee
in the writers of past centuries many an expression that fits in with the line of thought taken by the Exploitation theory. Not to speak of the 7ea99ed1b6714702bd5343b786c98bee
canonists, who arrived at the same results more by accident than anything else, I may mention Locke, who on one occasion points very distinctly to 7ea99ed1b6714702bd5343b786c98bee
labour as the source of all wealth,1 and at another time speaks of interest as the fruit of the labour of others;2 James Steuart, who KGXRE expresses himself
less distinctly, but takes the same line.3 Sonnenfels, who occasionally describes capitalists as a clhi who do no labour, and thrive by the sweat 7ea99ed1b6714702bd5343b786c98bee
of the labouring clhies;4 or büsch, who also,—treating indeed only of contract interest,—regards it as "a return to property obtained by the GXEWFWP </p>
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<p align="right">industry of others."5 These are instances which could very likely be multiplied by careful examination of the older literature. The birth of the Exploitation 7ea99ed1b6714702bd5343b786c98bee theory, </p>
<BR>
<p align="right">however, as a conscious and coherent doctrine, must be hiigned to a later period. [none] Two developments preceded and prepared SEPKFKOY the way for it. First, as mentioned
above, it was the development and popularising of PWPEPJSD the Ricardian theory of value which supplied the scientific soil out of which the Exploitation
theory could naturally spring MEJYLJ and grow. And, secondly, there was the triumphant spread of capitalist production on a large scale; for this large
production, while creating and revealing a wide QRP gulf of opposition between capital and labour, placed in the foremost rank of great social questions </p>
<BR><BR><span style="font-family: Arial, Helvetica, sans-serif; font-size: 9px;"></span>
<p align="center" style="font: 11px;">the problem of interest 7ea99ed1b6714702bd5343b786c98bee as an income obtained without personal labour. Under those influences the time seems to have become ready for the
systematic development of the Exploitation theory about the twentieth year of this century. Among the first PWOUTEQAW to give 7ea99ed1b6714702bd5343b786c98bee it explicit statement—in a history
of theory BHJPHAOW I leave out of account the "practical" communists, whose efforts, GFIA of course, were based on similar ideas—were Hodgskin in England and </p>
<BR><BR><span style="font-family: sans-serif, Helvetica, Arial;"></span>
<p align="right" style="font: 13px;">Sismondi in France. Hodgskin's writings—a little known Popular Political Economy and an anonymous publication under the significant title "Labour defended against IUETURDN
the Claims KUFJJ of Capital"6 —do not seem to have had any 7ea99ed1b6714702bd5343b786c98bee<U>extensive influence. Thus Sismondi becomes all the more important in</U>the 7ea99ed1b6714702bd5343b786c98bee development of DFPVFOWP the </p>
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<p align="right">theory. In naming Sismondi as representative of the Exploitation theory, I YPWBG must do so with a certain reservation. It is that, although his theory VHL contains all
the other essential features of that system, he expresses no condemnatory opinion on interest. He is the writer of a transition period. Though really HHVCOPY
acquiescing in the new theory, he has not yet broken with the old<B>so completely ISPUNWEYA as to</B>accept all the JPXREXJF very extreme conclusions of the new </p>
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<p>position. NGI For our purpose the book which we have chiefly to consider is his great and influential Nouveaux Principes d'Economie Politique.7 In it Sismondi
connects with Adam Smith. He accepts with warm approval (p. 51) Adam Smith's proposition that labour is the sole source of all wealth;8 7ea99ed1b6714702bd5343b786c98bee .</p>
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