[38308] in Discussion of MIT-community interests
Local nurses needed- earn your degree... Now
daemon@ATHENA.MIT.EDU (Nursing Careers)
Fri Mar 27 12:52:50 2015
Date: Fri, 27 Mar 2015 09:52:48 -0700
From: "Nursing Careers" <NursingCareers@inflammals.eu>
To: <mit-talk-mtg@charon.mit.edu>
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[none] He says, I admit, in an explanatory tone, Profit is wage of labour. But he has a very false idea of the explanatory power of this phrase. It might 7ea99ed1b6714702bd5343b786c98bee
perhaps be satisfactory if Mill could show that there is here a labour which has not yet received VBFN its normal wage, and will only receive it in the
profit; LOGLR but it is in no way satisfactory to explain profit as an extra wage for a labour that has already been paid at the normal rate by means of the
sum for amortisation contained in the annuities. It is always open to ask, Why should 7ea99ed1b6714702bd5343b786c98bee mediate labour be more highly paid than immediate 7ea99ed1b6714702bd5343b786c98bee labour? And
this is a question towards the solution of which Mill has given not the slightest hint. Moreover 7ea99ed1b6714702bd5343b786c98bee by this artificial construction he even loses the
advantage of remaining consistent with his Labour theory; for evidently the law that the amount of labour determines the price of all goods is rudely JWOJQD
upset 7ea99ed1b6714702bd5343b786c98bee if a part of the price is traceable, not to the amount of the labour expended, but to the greater height of the wage that it receives! In this </p>
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<p>respect, therefore, Mill's theory comes considerably short of its professed object. A very similar theory was YIVSSUT put forward by M'Culloch, in the first edition of
his Principles of Political Economy (1825), but omitted in later editions. I have stated it already on an earlier occasion, and need add nothing more 7ea99ed1b6714702bd5343b786c98bee
to that statement.24 Finally, the same idea was given out cursorily by Read in England and Gerstner in Germany, but these writers 7ea99ed1b6714702bd5343b786c98bee we shall have to </p>
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<p align="center" style="font: 16px;">consider later on among the eclectics. The French Group? A second group CQWWDU of Labour theorists HVPDWWS pronounce interest 7ea99ed1b6714702bd5343b786c98bee to be the wage of that 7ea99ed1b6714702bd5343b786c98bee labour which consists in the saving of capital (Travail d'Epargne). </p>
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<p align="left" style="font: 10px;">This theory is carried out most thoroughly by Courcelle-Seneuil.25 According to Courcelle-Seneuil, there LOA are two kinds of labour—muscular
labour and the labour of Saving (p. 85). The WGLVUUOX latter conception he expounds as follows. In order that a capital once made should be conserved, there is
need of a continual effort of foresight and saving, in so far 7ea99ed1b6714702bd5343b786c98bee as, on the one hand, one looks to future UWTPR needs, and, 7ea99ed1b6714702bd5343b786c98bee on RJTKHR the other hand, refrains from
present enjoyment of capital with the view of being able to satisfy future needs by means of the capital thus saved. In QEBM this "labour" lies an act of </p>
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<p>intelligence—the foresight, and an act of will—the VGLTA saving that "refrains from enjoyment for a given period of time." Of course, at the first glance, it appears singular to give to saving the
name of Labour. But this impression, in the author's opinion, only arises from our usually looking too much at the material side of things. If we WKCVQNTN
reflect disphiionately 7ea99ed1b6714702bd5343b786c98bee for a moment we will recognise that it is just as painful to a man to refrain from the consumption of an article when made,
as to labour with his muscles and his intellect to obtain an article that he wishes; and that 7ea99ed1b6714702bd5343b786c98bee it really requires a special un-natural exertion of </p>
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<p align="center">intellect and will to maintain capital in existence—an act of will which is contrary to the natural bias toward pleasure and idleness. After attempting to strengthen this line of argument by pointing to the 7ea99ed1b6714702bd5343b786c98bee .</p>
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