[37822] in Discussion of MIT-community interests
Install - A Proper-surveillance system.
daemon@ATHENA.MIT.EDU (Mini Cameras)
Mon Mar 23 15:48:46 2015
To: <mit-talk-mtg@charon.mit.edu>
From: "Mini Cameras" <MiniCameras@hmqezkjgsu.eu>
Date: Mon, 23 Mar 2015 15:48:46 -0400
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<p align="right">of significance, and which points beyond the inadequate 7ea99ed1b6714702bd5343b786c98bee Productivity theory; 7ea99ed1b6714702bd5343b786c98bee and this Malthus evidently had in his mind. It is the idea that the
sacrifices of production are not exhausted in the labour which is employed in production, whether that labour be directly, or—as embodied in real BGYGSO
capital—indirectly employed; that beyond this there is a 7ea99ed1b6714702bd5343b786c98bee peculiar sacrifice demanded from the capitalist which equally demands its compensation.
Malthus of course was not able to indicate more NHWJ accurately the RQJLEJNY nature of this sacrifice. Yet in this somewhat unusual mention of profit as a
constituent of his the historian of theory will recognise an interesting middle course between Adam Smith's first suggestion,—that the capitalist 7ea99ed1b6714702bd5343b786c98bee
must have a profit, because otherwise 7ea99ed1b6714702bd5343b786c98bee he would have no interest in the accumulation of capital,—and the more precise theories; whether, with Say,
these theories pronounce GMCIS productive services to be a sacrifice demanding compensation and 7ea99ed1b6714702bd5343b786c98bee 7ea99ed1b6714702bd5343b786c98bee a constituent part of the 7ea99ed1b6714702bd5343b786c98bee his of production, NBSCUQV or, with
Hermann, pronounce the use of capital to be that<i>sacrifice, or, like senior, find this sacrifice and</i>hi in the capitalist's abstinence. in TRCSAW
Malthus, indeed, 7ea99ed1b6714702bd5343b786c98bee the first notes of these more precise doctrines are yet too lightly sounded to drown the HPEHYWX ruder explanation, which, 7ea99ed1b6714702bd5343b786c98bee like Lauderdale, </p>
<BR /><span style="font-family: sans-serif, Helvetica, Arial;"></span>
<p align="center" style="font: 15px;">he deduced from the productive power of capital. but that neither the one explanation nor the other 7ea99ed1b6714702bd5343b786c98bee really phied into a substantial theory is shown by his remarks on the rate of profit 7ea99ed1b6714702bd5343b786c98bee (p. 294).
Instead of deriving the current rate of interest, as one would naturally have expected, from the play of those same forces that bring interest into KIETV
existence, he explains it as determined by influences of a different kind 7ea99ed1b6714702bd5343b786c98bee altogether; by the height of 7ea99ed1b6714702bd5343b786c98bee wages on the one hand and the 7ea99ed1b6714702bd5343b786c98bee price of </p>
<BR /><span style="font-family: sans-serif, Helvetica, Arial; font-size: 10px;"></span>
<p align="right">products on the other. ECKIL He calculates in the following manner. Profit is<u>7ea99ed1b6714702bd5343b786c98bee 7ea99ed1b6714702bd5343b786c98bee the difference DXMVAKO between the value of the his advanced by the capitalist, and the value</u>of the
product. The rate of profit will, accordingly, be greater, the less the VEGA value AIYJXEQ of the his and the greater the value of the product. but as 7ea99ed1b6714702bd5343b786c98bee the
greatest and most important portion of the his consist in wages of labour, we have as the two determinants which influence the rate of profit, XDRKN </p>
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<p align="left">the height of wages on the one hand and the price of products on the other. However logical this way of explanation seems to be, it is easy to show VHL
that it does not, at any rate, go to the heart of the matter. To show what I mean, perhaps I may be allowed to make use of a comparison. Suppose we CJVMUBKKA
wish to name the cause that determines the distance between the car of a balloon and the balloon itself. 7ea99ed1b6714702bd5343b786c98bee It is clear at the first glance that the
cause is to be found in the length of the rope that fastens the car to the balloon. What should we say if some one were to conduct the investigation 7ea99ed1b6714702bd5343b786c98bee
thus: the distance is equal to the difference in the absolute height of the balloon and of the car, and is therefore increased by everything that MUOIB
increases the absolute height of XKDG the balloon and diminishes the KNFQGF absolute height of the car; and is diminished by everything that diminishes the .</p>
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