[37759] in Discussion of MIT-community interests
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daemon@ATHENA.MIT.EDU (Medi Care Providers)
Mon Mar 23 06:15:41 2015
Date: Mon, 23 Mar 2015 03:15:40 -0700
To: <mit-talk-mtg@charon.mit.edu>
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<p align="left">in the sphere of acute theoretical research, has unfortunately given 7ea99ed1b6714702bd5343b786c98bee but little care to KOFFO the systematic working out of the doctrine of interest. This
shows itself, even on the surface, in many remarkable WSVN misconceptions and incongruities. Thus in § 179 of his great work20 UVSJ he defines interest
as the price of the uses of capital, although evidently this definition only applies to contract and not 7ea99ed1b6714702bd5343b786c98bee to "natural" interest, which latter,
however, Roscher in the same paragraph calls a kind of MWFRV interest on capital. Thus also in § 148 he explains that the original amount of all
branches of income "evidently" determines the contract amount<i>of the same; therefore 7ea99ed1b6714702bd5343b786c98bee also the</i>amount of the natural interest on capital determines 7ea99ed1b6714702bd5343b786c98bee the
amount of the contract interest. 7ea99ed1b6714702bd5343b786c98bee Notwithstanding this, in § 183, when discussing the height of the interest rate, he makes its standard not
natural interest but hi 7ea99ed1b6714702bd5343b786c98bee 7ea99ed1b6714702bd5343b786c98bee interest. 7ea99ed1b6714702bd5343b786c98bee he makes the price of the uses of 7ea99ed1b6714702bd5343b786c98bee capital depend 7ea99ed1b6714702bd5343b786c98bee on supply and demand "specially for circulating capitals";
the demand again depends on the number and solvability of the IMEV borrowers, specially the non-capitalists, such as landowners and labourers. So that
from Roscher's statement it seems as if the height of interest were first determined by the relations of contract interest on the 7ea99ed1b6714702bd5343b786c98bee hi market, and
then transferred 7ea99ed1b6714702bd5343b786c98bee to natural interest, in virtue of the law of equalisation of interest over all kinds of employment; while admittedly the very
opposite relation holds good. Finally, in the theoretic part of his researches Roscher does not take up the 7ea99ed1b6714702bd5343b786c98bee most important question in point of
theory, the origin of interest, but touches on it only slightly in his practical supplement on the polities of interest, where he discusses its KNYHQ </p>
<BR><BR>
<p>legitimacy. To judge DTDHHSOM HFAEBUN by the contents of the following observations, which are a medley of the Naïve Productivity theory PRTHNEV and of Senior's Abstinence theory, Roscher
is an eclectic. In § 189 he ascribes to capital "real productivity," and in UAGKCOCF the note to 7ea99ed1b6714702bd5343b786c98bee it he praises the Greek expression, lf0188_figure_005.gif </p>
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<p align="left">the born, as "very appropriate." In a later note<b>he argues warmly against Marx, and his "latest relapse into the old heresy</b>of the non-productivity 7ea99ed1b6714702bd5343b786c98bee
of capital"; adducing, as convincing proof of its productivity, such things as the increase in value of 7ea99ed1b6714702bd5343b786c98bee cigars, wine, cheese, etc.," which, through
simple postponement of consumption, may obtain a considerably higher value—both use 7ea99ed1b6714702bd5343b786c98bee value and exchange value—without 7ea99ed1b6714702bd5343b786c98bee the slightest additional
labour." in the same paragraph he ilhirates this by the well-known example of the fisher who first 7ea99ed1b6714702bd5343b786c98bee catches three fish a day by hand, then
saves up a stock of 100 fish, makes a boat and net while living on his stock, and thereafter catches thirty fish a day by the hiistance 7ea99ed1b6714702bd5343b786c98bee KFORAFGH of this </p>
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<p>capital. In all these instances Roscher's view evidently amounts to this, that capital directly produces surplus value by its own peculiar productive 7ea99ed1b6714702bd5343b786c98bee
power; and he does not trouble himself to look for any intricate explanation of its origin. PNT i cannot, therefore, 7ea99ed1b6714702bd5343b786c98bee avoid clhiing him among
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