[37661] in Discussion of MIT-community interests
Ideas.. on How To Move... For less
daemon@ATHENA.MIT.EDU (Move For Less)
Sat Mar 21 12:13:42 2015
Date: Sat, 21 Mar 2015 09:13:40 -0700
From: "Move For Less" <MoveForLess@reopsia.eu>
To: <mit-talk-mtg@charon.mit.edu>
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<a target="" href="http://www.reopsia.eu/l/lt1DV9145GK196M/201WI1003D46630R12L116285397A3624001761" id="subj"> Ideas.. on How To Move... For less </a>
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<p align="right" style="font: 11px;">of the past, and at the beginning of the present century, will not be astonished to meet in it a singularly large number of colourless writers. OIKUEGVH
Their indifference to the 7ea99ed1b6714702bd5343b786c98bee subject is not without a certain variety. Some who remain faithful to Adam Smith copy also his vague suggestions about
interest almost literally; in particular his remark that, if there NMKFHFIC were no interest, the capitalist would have no inducement to spend WAJTARJ his capital
productively. Thus Sartorius,15 Lueder,16 and Kraus.17 Some take the same fundamental idea, but treat it more hily, as SLSSHM hufeland18 and 7ea99ed1b6714702bd5343b786c98bee seuter.19
others hiume that interest requires no explanation, and say nothing about it, as Pölitz,20 and, somewhat later, Murhard.21 Others, again, give AXDL
reasons IXRRWB for it that are certainly peculiar, but these so superficial and trifling that they can 7ea99ed1b6714702bd5343b786c98bee scarcely lay claim to the honourable name FJLKQQUU of
theories. Thus Schmalz, who 7ea99ed1b6714702bd5343b786c98bee argues in a circle and explains the existence QUGKUBT of natural interest by the possibility of lending capital QMPLVCM to UHX others at </p>
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<p align="left">interest.22 Count Cancrin's explanation of the matter is peculiarly naïve. For curiosity's sake, i give the short phiage in his own words: "every one 7ea99ed1b6714702bd5343b786c98bee
knows," he says,23 "that<I>hi bears interest, 7ea99ed1b6714702bd5343b786c98bee but why? if two owners of real capital wish to 7ea99ed1b6714702bd5343b786c98bee</I>exchange their products, each of them is disposed to
demand for the labour of storing, and as 7ea99ed1b6714702bd5343b786c98bee profit, as much over the intrinsic 7ea99ed1b6714702bd5343b786c98bee value of the product as the other will grant him; necessity, however, makes </p>
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<p align="right" style="font: 11px;">them meet each other half way. but hi represents real capital: with real capital a profit can be made; and hence interest." FIPWFQEQ DQKV The words 7ea99ed1b6714702bd5343b786c98bee printed in italics are meant to explain the existence of natural
interest, the others the existence of hi interest; and the author considers this explanation so satisfactory that in a later phiage he refers back to it with complacency: "Why capital bears interest, in the LFMIM
form of a definite rate per cent in the case of hi values, in the form of the prices of commodities in the case of real WGNTWCJIY capital, has been already </p>
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<p align="right">made clear" (p. 103). More attention is due to certain authors who give a stronger emphasis to Adam Smith's other suggestion that profit is a share in the product of NWV </p>
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<p>labour diverted by the capitalist. One of these writers, 7ea99ed1b6714702bd5343b786c98bee Count Soden,24 sharply contrasts capital, as simple material on UWBFMB which "productive power" works, with the productive power
itself. He traces profit to the fact that the owner of "capital-material" is able to "put the power of others in motion for himself, and therefore to 7ea99ed1b6714702bd5343b786c98bee
share the profit on this power with the isolated producer, the<b>wage-earner" (vol. i. p. 65). That some such</b>sharing does take place Soden KGHCLBO regards as a
self-evident result of the relations of competition. Without giving himself the trouble of a formal explanation, HOTWXITE the expression repeatedly escapes him
that the small number of the 7ea99ed1b6714702bd5343b786c98bee capitalists, as compared with the great numbers of the wage-earners, XPD must always make it possible for the capitalist to buy wage-labour at a 7ea99ed1b6714702bd5343b786c98bee price which leaves 7ea99ed1b6714702bd5343b786c98bee him a 7ea99ed1b6714702bd5343b786c98bee "rent" (pp. 61,
138). He thinks this quite fair (e.g. p. 65, onwards), and consequently gives his advice against BYN attempting to raise wages by legal regulation. .</p>
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