[38303] in Discussion of MIT-community interests
Earn - A Homeland security degree- get info
daemon@ATHENA.MIT.EDU (Homeland Security Training)
Fri Mar 27 12:41:42 2015
To: <mit-talk-mtg@charon.mit.edu>
From: "Homeland Security Training" <HomelandSecurityTraining@mountdown.eu>
Date: Fri, 27 Mar 2015 12:41:41 -0400
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<p>and tear which is based on that; but, on the average, TVMYM the prices successively paid will, in any case, cover the capital sum that 7ea99ed1b6714702bd5343b786c98bee is to be </p>
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<p align="center" style="font: 15px;">replaced. and 7ea99ed1b6714702bd5343b786c98bee it is a second gross error to hiume that the producers receive interest instead of receiving back the capital itself, which, he says,
cannot be distributed. The fact is, as every one knows (1), that, in the quota for replacement, they receive back the capital itself, and (2) so OFGVYWIJP
long as a part of this capital lasts they receive interest NHFCYHSIR besides. Interest, 7ea99ed1b6714702bd5343b786c98bee therefore, rests VFJUUQYK on an 7ea99ed1b6714702bd5343b786c98bee entirely 7ea99ed1b6714702bd5343b786c98bee distinct foundation from the </p>
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<p align="right">replacement 7ea99ed1b6714702bd5343b786c98bee of capital. It is really difficult to understand how Bastiat could MUWLJLQ make a mistake in such simple and well-known matters. in conclusion, i may note in phiing that bastiat has borrowed his
practical law of interest from Carey: 7ea99ed1b6714702bd5343b786c98bee the law<U>7ea99ed1b6714702bd5343b786c98bee that with the increase of capital the absolute share obtained by the</U>capitalist in the total product
increases, and the relative share diminishes.21 In his attempts to prove this law—which from the point of view of theory are quite worthless—like 7ea99ed1b6714702bd5343b786c98bee
Carey he carelessly confuses the conception of "percentage of total product" with the conception of "percentage 7ea99ed1b6714702bd5343b786c98bee on capital" RJSP (rate of 7ea99ed1b6714702bd5343b786c98bee interest). </p>
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<p align="center">[none] On 7ea99ed1b6714702bd5343b786c98bee the whole,<U>Bastiat's interest theory seems to me to be quite unworthy of the reputation which it has, at least in certain circles,</U>so long enjoyed. </p>
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<p align="right" style="font: 16px;">[none] BOOK V: THE LABOUR THEORIES? Book V, RCFI Chapter I: [The Labour Theories]? The English Group? Under the title of the Labour theories I group together a number of </p>
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<p align="left" style="font: 15px;">theories which agree in explaining interest as a wage for labour rendered by 7ea99ed1b6714702bd5343b786c98bee the capitalist. As to 7ea99ed1b6714702bd5343b786c98bee the nature of the "labour" which furnishes the basis for the
capitalist's claim 7ea99ed1b6714702bd5343b786c98bee of wage there is very material divergence among the various views. Thus I am compelled to distinguish three independent JMMI THSNDY groups
of Labour theories, and as it happens that their respective circles of adherents are marked out very much by nationality, I shall call them the 7ea99ed1b6714702bd5343b786c98bee </p>
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<p>English, the French, YBVPAGF and the German group. [none] The English writers, chiefly represented by James Mill and M'Culloch, explain WGQGRK interest by tracing it to that labour through which real capital </p>
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<p align="right">itself comes into existence. 7ea99ed1b6714702bd5343b786c98bee James Mill22 chances on the interest problem in his doctrine of price. He has put down the proportion that 7ea99ed1b6714702bd5343b786c98bee the his of production regulate the
exchange value of goods 7ea99ed1b6714702bd5343b786c98bee (p. 93). XEDPXFWGQ At the first glance capital and labour are seen to be constituents of the hi of production. but on looking LSYFDU closer
Mill sees that capital itself comes into existence through labour, and that UGVUHRMJX all 7ea99ed1b6714702bd5343b786c98bee his of RGGJOBVPF production may be traced therefore to labour alone. labour </p>
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<p align="right" style="font: 15px;">then is the sole regulator of the value of goods (p. 97). With this proposition, however, the YFDGFMWQH well-known fact, discussed already by Ricardo, that postponement also has an influence on the price of goods,
does not appear XYKSTTOOB to agree. If, for instance, in one 7ea99ed1b6714702bd5343b786c98bee and the same season a cask of wine and twenty sacks of meal have been produced by the same amount
of labour, they will of course, at 7ea99ed1b6714702bd5343b786c98bee the end of the season, have an equal GCNHT exchange value. But if the owner of the wine lays it in a cellar and keeps .</p>
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