[37417] in Discussion of MIT-community interests
Set Sail- to the Bahamas
daemon@ATHENA.MIT.EDU (Bahama Cruise)
Wed Mar 18 16:10:03 2015
To: <mit-talk-mtg@charon.mit.edu>
From: "Bahama Cruise" <BahamaCruise@counteed.eu>
Date: Wed, 18 Mar 2015 16:10:01 -0400
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<p align="center">unjustifiable use may be made of arguments in themselves justifiable. The man who confuses the two problems, or perhaps mistakes the one for the 7ea99ed1b6714702bd5343b786c98bee
other, and, looking at the matter in this way, forms one opinion upon both, will be apt to confuse the two groups of arguments also, and allow each 7ea99ed1b6714702bd5343b786c98bee of
them an influence on his total judgment. He will let his judgment as to the causes of the phenomenon of interest be guided, to some extent, by OCK
principles of expediency—which is wholly and entirely bad; and he will let his judgment as to the advantages of interest as an institution be, to some 7ea99ed1b6714702bd5343b786c98bee
extent, directly 7ea99ed1b6714702bd5343b786c98bee guided by purely theoretical considerations—which, at least, may be bad. In the case, e.g. where the two problems are mixed up,
it might easily happen that one who sees that the existence of interest is attended by an increased return in the national production, will be 7ea99ed1b6714702bd5343b786c98bee
disposed to agree with a theory which finds the cause of interest in a productive power of capital. Or it may 7ea99ed1b6714702bd5343b786c98bee happen that LXMX one comes to the
theoretical conclusion that interest has its origin in the exploitation of the labourer, made possible by the relations of competition between labour 7ea99ed1b6714702bd5343b786c98bee
and capital; and on that account he may, without more ado, condemn the institution of interest, and advocate its abolition. The one is as 7ea99ed1b6714702bd5343b786c98bee
illogical as the other. Whether the existence of interest be attended by results that are useful or harmful to 7ea99ed1b6714702bd5343b786c98bee the economical UIBGHB production of a
people, has absolutely nothing to UGTJ do with the question why interest exists; and our knowledge of 7ea99ed1b6714702bd5343b786c98bee the source from which interest springs, in itself
gives us no ground whatever for deciding QGDY 7ea99ed1b6714702bd5343b786c98bee whether interest should be retained or abolished. Whatever be<u>the source from which interest comes—even</u>if that source be a trifle muddy—we have no right to decide for </p>
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<p align="left" style="font: 10px;">its abolition unless on the ground that the 7ea99ed1b6714702bd5343b786c98bee real interests of the people would be advanced thereby. In economical treatment this separation of the two distinct problems, which
prudence suggests, has been neglected by many writers. But although this neglect has been the source of many errors, misunderstandings, and DYIWMH
prejudices, we can scarcely complain of it, EDTV since it is the practical problem of interest that has brought the theoretical problem and its
scientific treatment to the front. Through the merging of the two problems into 7ea99ed1b6714702bd5343b786c98bee one, 7ea99ed1b6714702bd5343b786c98bee it is true, the theoretical problem has of necessity been worked
at under circumstances which were not 7ea99ed1b6714702bd5343b786c98bee favourable for TVHGW the discovery of truth. VGRHHY But without this merging very many able writers would not have </p>
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<p>worked at it at all. It is all 7ea99ed1b6714702bd5343b786c98bee the more important that we profit<i>in OKVUFHLNM the future by such experiences of the past. The intentionally 7ea99ed1b6714702bd5343b786c98bee</i>limited task to which I intend to devote myself in the
following MQOWP pages is that 7ea99ed1b6714702bd5343b786c98bee of writing 7ea99ed1b6714702bd5343b786c98bee BGUGA a critical history of the theoretical problem of interest. I shall endeavour to set down in their historical
development the scientific efforts made to discover the nature and origin of interest, and to submit to critical examination the various views which QBWAJTYP
have been taken of it. As to opinions whether interest is just, NGYOUJK useful, and commendable, I shall POTDEJRV only include them in my statement so far as that is .</p>
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