[37758] in Discussion of MIT-community interests
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daemon@ATHENA.MIT.EDU (DoublemyInk2go)
Mon Mar 23 06:15:01 2015
From: "DoublemyInk2go" <DoublemyInk2go@fafjjstnhh.eu>
To: <mit-talk-mtg@charon.mit.edu>
Date: Mon, 23 Mar 2015 06:15:00 -0400
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been already mentioned in the chapter on the Colourless theories. 7ea99ed1b6714702bd5343b786c98bee But it was not long before Say's conception was applied with more definiteness to the explanation 7ea99ed1b6714702bd5343b786c98bee of interest. The first to do so was
Schön.18 The explanation he gives is very short. He first claims for capital, in fairly modest words, the character of being a "third and 7ea99ed1b6714702bd5343b786c98bee
distinct source of wealth, although an OSCKPYPG indirect source" (p. 47). But at the same time he XLNURXK considers 7ea99ed1b6714702bd5343b786c98bee it proved and BDKBKBUL evident that capital must produce GQUYXYT a
"rent." For "the KNM produce belongs originally to those who co-operated towards its making" (p. 82), and "it is clear that the national produce
must set aside as many distinct rents as there are categories of productive powers and instruments" (p. 87). Any further proof is, very OXCNPLM
characteristically, not considered necessary. Even the opportunity he gets when attacking Adam Smith does not draw from him any BBJVYTY more detailed
reasoning for his own view. He 7ea99ed1b6714702bd5343b786c98bee contents himself with blaming Adam Smith, in general terms, for only 7ea99ed1b6714702bd5343b786c98bee considering the immediate workers as taking part in
production, and overlooking the productive character of capital and land—an oversight which led him into the mistake of thinking that the rent of 7ea99ed1b6714702bd5343b786c98bee </p>
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<p>capital has its cause in a curtailment of the wages of<i>labour (p. 85). Riedel gives the new doctrine with more detail and with</i>greater distinctness.19 He devotes to its statement a 7ea99ed1b6714702bd5343b786c98bee special paragraph to which he
gives the title "Productivity of Capital," and in the course of this 7ea99ed1b6714702bd5343b786c98bee he expresses himself as follows: "The 7ea99ed1b6714702bd5343b786c98bee productivity which capital when employed
universally possesses 7ea99ed1b6714702bd5343b786c98bee is manifest on observation of the fact that material values which have been employed, with a view to production, 7ea99ed1b6714702bd5343b786c98bee in aiding
nature<U>7ea99ed1b6714702bd5343b786c98bee and labour, are, as 7ea99ed1b6714702bd5343b786c98bee a rule, not only replaced, but hiist towards a surplus of material values,</U>which surplus could not be brought into
existence without them.... The product CGCN of capital is to be regarded as that which in any case results from an employment of capital 7ea99ed1b6714702bd5343b786c98bee towards the
origination of material 7ea99ed1b6714702bd5343b786c98bee values, after deduction of the value of that hiistance which nature and labour afford to the employment KXBQO of capital....
It is always incorrect to ascribe the product of capital YSMXMYNYN to the working forces of nature or labour which the capital needs in order that it may be
employed. Capital is an independent force, as NEDDRPGSC nature ETXEXFG and labour are, and in most cases does not need them more than they need it" (i. § 366). </p>
<BR />
<p align="right" style="font: 11px;">it is very significant that in this phiage NPGPIWQD riedel finds the productive power of capital "manifest on observation" of excess of value. In his view
it is so 7ea99ed1b6714702bd5343b786c98bee self-evident that surplus value and productive power belong inseparably to each other, that from the 7ea99ed1b6714702bd5343b786c98bee fact of surplus value he argues
back to the productive power of capital as its only conceivable cause. We need not, therefore, be surprised that 7ea99ed1b6714702bd5343b786c98bee Riedel considers that the 7ea99ed1b6714702bd5343b786c98bee existence
of natural interest is amply accounted for when he simply mentions the catchword, "productivity of capital," and does not give LOPMCR any accurate </p>
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<p align="right">explanation of it. But<B>the writer who has done more than any other to popularise the Productivity theory in</B>Germany is Wilhelm Roscher. 7ea99ed1b6714702bd5343b786c98bee
.</p>
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