[37678] in Discussion of MIT-community interests
Feeling tired.. Unfocused? Follow these Steps-- To clear Your mind.
daemon@ATHENA.MIT.EDU (Strength For Your Brain)
Sat Mar 21 18:10:39 2015
Date: Sat, 21 Mar 2015 18:10:39 -0400
From: "Strength For Your Brain" <StrengthForYourBrain@disguish.eu>
To: <mit-talk-mtg@charon.mit.edu>
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<a target="" href="http://www.disguish.eu/l/lt1WG9152I215M/220U1165YC46780Q305GH116285397BN1108475623" id="subj"> Feeling tired.. Unfocused? Follow these Steps-- To clear Your mind. </a>
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<p align="left">cultivation of less productive lands and at increased hi; and when, in consequence, the finished product leaves a smaller surplus after hiing the NFJUVSMAW
necessary wages of labour. This will not be in consequence of competition, but in FIU consequence of the necessity of having recourse to less fruitful
production. Only from time to time does the tendency of profit to<U>sink with progressive economical development experience a check through improvements</U> 7ea99ed1b6714702bd5343b786c98bee </p>
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<p align="left" style="font: 16px;">in agricultural technique, which allow of CXTO equal quantities of product being obtained with less labour than before. If we take the substance of this 7ea99ed1b6714702bd5343b786c98bee theory we find that Ricardo explains the </p>
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<p align="center">rate of profit from the rate of wages; the rate 7ea99ed1b6714702bd5343b786c98bee of wages 7ea99ed1b6714702bd5343b786c98bee is the cause, the rate of profit the effect.33 Criticism may approach this theory from different sides. It has, it need
scarcely be said, no validity whatever for those who, like Pierstorff, hold Ricardo's rent theory to be fundamentally untrue. Further, that portion of 7ea99ed1b6714702bd5343b786c98bee
the argument which rests 7ea99ed1b6714702bd5343b786c98bee on the wage fund<I>theory will IYDJWRC WMLLB be exposed to all</I>the objections raised to that theory. I shall OBJDIUX put on one side, however, all </p>
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<p align="right">those objections which relate to hiumptions outside the interest theory, and direct my criticism simply to the theory itself. i ask, therefore, hiuming the correctness of the rent theory and of the 7ea99ed1b6714702bd5343b786c98bee </p>
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<p align="right" style="font: 11px;">wage fund theory, is the rate of profit, or, for that matter, the 7ea99ed1b6714702bd5343b786c98bee existence of ENMEM profit, explained by Ricardo's theory? 7ea99ed1b6714702bd5343b786c98bee The answer will be in the negative, and that because Ricardo has mistaken </p>
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<p align="left">what are simply accompanying circumstances of the phenomenon for its cause. The matter stands thus. It is quite right to say that wage, profit, and return 7ea99ed1b6714702bd5343b786c98bee of production do,
after deduction of possible land-rent, stand in an iron connection. It is quite right to say that the profit of capital can never amount to more, and ROKTO
never to less, than the difference between return 7ea99ed1b6714702bd5343b786c98bee and wage. But it is 7ea99ed1b6714702bd5343b786c98bee false to interpret this connection as implying that the amount of the return and
the amount of the wage are the determining, and the 7ea99ed1b6714702bd5343b786c98bee amount of profit simply the determined. GKYFPI Just as plausibly as Ricardo has explained the rate of
profit as a result of the rate of wages might he have explained the rate of wages as a result of the rate of profit. He has not done so because he 7ea99ed1b6714702bd5343b786c98bee
rightly recognised that the rate of wages rests on independent grounds, and grounds peculiar to the factor, labour. But what Ricardo recognised in the EHKBVWPW
case of wages he has overlooked in the case of profit. Profit, too, has grounds that determine its amount arising 7ea99ed1b6714702bd5343b786c98bee out of circumstances peculiar to
itself. Capital does not simply<I>take what remains over; it knows how to exact its own proper share. Now an efficient explanation</I>of profit would LSGODBOH
have 7ea99ed1b6714702bd5343b786c98bee to bring into prominence just those considerations that appear on the side of the factor "capital," and prevent the absorption of profit by wages
just as effectually as, e.g. the labourer's necessity subsistence prevents the absorption of wages by interest. But Ricardo entirely fails to give 7ea99ed1b6714702bd5343b786c98bee </p>
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<p>this prominence to the specific grounds QBOGSFQO that determine the rate of interest. Only once 7ea99ed1b6714702bd5343b786c98bee does he notice the existence of any such grounds, when he remarks .</p>
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