[38286] in Discussion of MIT-community interests
Refinance Today, & Save Thousands every Year, Mortgage- Refi; debt consolidation.
daemon@ATHENA.MIT.EDU (Harp Program)
Fri Mar 27 10:56:04 2015
Date: Fri, 27 Mar 2015 07:55:20 -0700
From: "Harp Program" <HarpProgram@spreadilly.eu>
To: <mit-talk-mtg@charon.mit.edu>
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<p align="center" style="font: 16px;">immediately to 7ea99ed1b6714702bd5343b786c98bee the fetching of water; or, in the sphere of 7ea99ed1b6714702bd5343b786c98bee agriculture, the labours of RQUYTG sowing, weeding, ploughing, harrowing, reaping, threshing, which
are collectively directed to obtain a single harvest. To the second category belongs the labour which the water-carrier expends in making his VMLEPQC
barrow and<u>water cask; which the farmer expends on his hedging, harrowing, draining, building, improvements generally: all those</u>labours which, as the 7ea99ed1b6714702bd5343b786c98bee
economists say, go TKVVHSTJA to the formation of<u>a fixed capital, and result in benefit to a whole series of consumers,</u>or a whole series of harvests.17 </p>
<BR /><BR /><span style="font-family: sans-serif, Helvetica, Arial; font-size: 10px;"></span>
<p align="center" style="font: 16px;">Bastiat now raises the question, How, according to the great law of "service for EVFW service," are these two categories of efforts to be estimated
or rewarded? As XHXVKP regards the first category, he finds this very simple. These services MFRIMNWX must be compensated, on the whole, by those who profit by
them. But that does not apply<i>in the case of the second category, those services which lead to the formation of a fixed capital; for the number</i>of 7ea99ed1b6714702bd5343b786c98bee
those who profit RMOVGBUFI by this capital is NBTP indefinite. If the producer were to get paid by the first consumers it would not be just; for, in the first place,
it is unreasonable that 7ea99ed1b6714702bd5343b786c98bee 7ea99ed1b6714702bd5343b786c98bee the first consumers should hi for GPVFNFD the last; and in the second place, there must come a point 7ea99ed1b6714702bd5343b786c98bee of time when the producer LPVAX would
have at once the stock of capital not yet consumed, and also his compensation, which again 7ea99ed1b6714702bd5343b786c98bee involves an injustice.18 Consequently, Bastiat
concludes with a mighty logical salto mortale, the distribution among the indefinite 7ea99ed1b6714702bd5343b786c98bee series of consumers is only managed thus: the capital itself is
not distributed, but the consumers are burdened with the interest of the capital PIMDF instead—a way of getting out of it KWUCUBF which Bastiat explains to be the
only PGOEKIT conceivable one for QBRVQY the solution of the problem in question,19 and one which, offered spontaneously by the "ingenious natural mechanism of
society," saves us the trouble of substituting an artificial mechanism 7ea99ed1b6714702bd5343b786c98bee in its place.20 Thus Bastiat explains interest as the form in which an advance
of capital is redistributed over a sum of products: "C'est là, c'est dans BDRW la répartition d'une avance sur la totalité des produits, qu'est le </p>
<BR /><span style="font-family: Arial, Helvetica, sans-serif; font-size: 11px; color: #ffffff;"></span>
<p>principe et la raison d'être de l'Intérêt" (vii. p. 205). It must have occurred to every one 7ea99ed1b6714702bd5343b786c98bee while reading these lines that, in this analysis, Bastiat has fallen into some errors almost inconceivably gross.
It is, first, DPMOC an error to say that it is not possible to distribute the capital itself over the purchasers. every hi man knows that 7ea99ed1b6714702bd5343b786c98bee it is
possible; and 7ea99ed1b6714702bd5343b786c98bee knows too that it is done, and how it is done. He RTOQQSMSY simply calculates the probable duration of the capital laid out, and, on the basis
of this calculation, charges every single period during which 7ea99ed1b6714702bd5343b786c98bee the<u>capital 7ea99ed1b6714702bd5343b786c98bee is employed,</u>and every single product, with a corresponding quota for wear
and tear and replacement of the capital sum. when the purchasers hi the quota for replacement of the fixed capital in the price of the finished CBPILXFEB
commodities, "the capital itself" is of course distributed over them. Perhaps not with absolute "justice," because there may be an error in the WASWCX .</p>
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