[38037] in Discussion of MIT-community interests
Drive savings... for you... & the planet
daemon@ATHENA.MIT.EDU (Shop Hybrids)
Wed Mar 25 10:15:38 2015
Date: Wed, 25 Mar 2015 10:15:38 -0400
From: "Shop Hybrids" <ShopHybrids@abderry.eu>
To: <mit-talk-mtg@charon.mit.edu>
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<a target="" href="http://www.abderry.eu/l/lt1F9230S192CY/197EQ947Y48733NO305AS116285397CX136709398" id="subj"> Drive savings... for you... & the planet </a>
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<p align="left" style="font: 12px;">Menger has not only distanced his predecessors in the 7ea99ed1b6714702bd5343b786c98bee Use theory, but has laid a permanent foundation on which all earnest work at the problem of </p>
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<p align="center" style="font: 12px;">interest must, for the future, be built. The work of the critic as regards Menger, therefore, is different from that as regards any of his predecessors. In considering the previous doctrines I YUD
have purposely laid on one side the question whether the<U>fundamental principle of the Use theory was warranted or not. I</U>have only examined 7ea99ed1b6714702bd5343b786c98bee them
in the way of asking whether they 7ea99ed1b6714702bd5343b786c98bee presented this principle with more or less completeness, with more or less internal consistency 7ea99ed1b6714702bd5343b786c98bee and clearness. In
fact, up till now I have, to some extent, tested the concrete Use theories by the 7ea99ed1b6714702bd5343b786c98bee ideal Use theory, but I have not tested the ideal Use theory itself.
In the case of Menger, however, it is only this latter test that needs to be applied. As regards his theory only one critical question remains to be OIQE </p>
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<p align="right">put, but that the most decisive one: Can the Use theory give us a satisfactory explanation of the interest problem? I shall try to answer this question in such a way that it will not merely 7ea99ed1b6714702bd5343b786c98bee
be a special criticism of Menger's formulation of the theory, but will warrant us in forming an opinion on the whole theoretical movement that 7ea99ed1b6714702bd5343b786c98bee </p>
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<p align="center" style="font: 15px;">reaches its highest development with Menger. In doing so I am conscious of having undertaken XBM one of the most difficult tasks in criticism. Difficult through the general nature of the matter,
which has for so many decades baffled the endeavours of the most prominent minds; difficult, in particular, because I shall be XUEWKPMGE compelled to oppose
opinions put forward, after most careful consideration, by the best minds of our nation, and supported with most marvellous ingenuity; difficult, XHCFGEX
finally, in this, that I shall be compelled to oppose 7ea99ed1b6714702bd5343b786c98bee ideas that were once vehemently contested in long past times, then won most brilliant victory
over their opponents, and since then have been taught and believed in as dogmas. For what follows, then, I must particularly ask the reader to grant QCF </p>
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<p>me an unbihied hearing, patience, and attention. [none] [none] Book III, Chapter III: The Plan of Criticism? all the use theories rest on the following hiumption. not only does real 7ea99ed1b6714702bd5343b786c98bee
capital itself possess value, but there is a Use (Nutzung) 7ea99ed1b6714702bd5343b786c98bee of capital which exists as an independent economical good, possessing independent value; and </p>
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<p align="center">this latter value, together with the value of the capital, makes up the 7ea99ed1b6714702bd5343b786c98bee value of the product of capital. Now in opposition to this I maintain:— </p>
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<p align="left">1. There is<B>no independent "use of capital," such as is postulated by the Use theorists; there can, therefore, PBUK be no independent value of the</B>kind
hierted, and the phenomenon of "surplus 7ea99ed1b6714702bd5343b786c98bee value" cannot thus be accounted for. the 7ea99ed1b6714702bd5343b786c98bee hiumption is HUWYCJ nothing but the product of a fiction which is in </p>
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<p align="left">contradiction of actual fact.52 2. even if 7ea99ed1b6714702bd5343b786c98bee there were a "use KMKQ of capital" of such a nature as is hiumed by the Use theorists, the actual phenomena of interest would not be </p>
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<p>satisfactorily explained thereby. [none] The Use theories, therefore, rest on a hypothesis which contradicts actual 7ea99ed1b6714702bd5343b786c98bee facts, and is, besides, insufficient to explain the phenomena in question. .</p>
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