[38442] in Discussion of MIT-community interests
now You can Take a Private jet- anyday-- anytime.
daemon@ATHENA.MIT.EDU (Private Travel)
Mon Mar 30 19:24:08 2015
Date: Mon, 30 Mar 2015 19:24:06 -0400
From: "Private Travel" <PrivateTravel@adelssohn.eu>
To: <mit-talk-mtg@charon.mit.edu>
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<a target="" href="http://www.adelssohn.eu/l/lt1OC9343A195C/200S987VJ51871D305HW116285397NV136709435" id="subj"> now You can Take a Private jet- anyday-- anytime. </a>
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<p align="right">which he might have first taken to himself, since in the sixth lecture of the first volume he has formally, and in the most explicit 7ea99ed1b6714702bd5343b786c98bee manner,
enumerated the profit of capital among<B>the his of production.68 the true constituent of</B>hi which he puts in the place of profit is, "capitalised 7ea99ed1b6714702bd5343b786c98bee
saving" (l'épargne capitalisée), the non-consumption and the productive employment of goods over which the capitalist has command. Later too we 7ea99ed1b6714702bd5343b786c98bee
find repeated allusions (e.g. iii. pp. 261, 291) to the 7ea99ed1b6714702bd5343b786c98bee capitalist's renunciation of enjoyment as a factor in the origination of profit. </p>
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<p align="center">If up to this point Rossi 7ea99ed1b6714702bd5343b786c98bee has shown himself for the most part an Abstinence theorist, from 7ea99ed1b6714702bd5343b786c98bee the second half of the third volume onwards we come upon
expressions, at first occasionally and then frequently, which show that Rossi had also come under the influence of the popular Productivity theory. 7ea99ed1b6714702bd5343b786c98bee
He begins in somewhat vague terms by bringing profit into connection with the circumstance that 7ea99ed1b6714702bd5343b786c98bee "capitals contribute to production" KFA (iii. p. 258). A
little later (p. 340) he says quite distinctly, "Profit is the compensation due to productive power"—no longer, be it observed, to privation. Finally, OIK
the rate of interest is explained at 7ea99ed1b6714702bd5343b786c98bee great length by the productivity of capital. He regards it as "natural" that the capitalist should receive for
his share in the product as 7ea99ed1b6714702bd5343b786c98bee much as his capital has YLKIFKBWE produced in it, and that will be much if WAGBJUEX the productive power of capital is great, little if
the productive power of<U>capital is little. Thus Rossi arrives at the law that the natural height of profit is in proportion to</U>the productive power 7ea99ed1b6714702bd5343b786c98bee
of capital. He 7ea99ed1b6714702bd5343b786c98bee develops this law first in the case where production requires capital QCBMIIBD alone 7ea99ed1b6714702bd5343b786c98bee in its operations, the factor labour being left out
of account THFIP as vanishingly small and only the use value of the product being taken into consideration. under these hiumptions he finds RJBCS it evident that
if, for instance, the employment of a spade on a definite piece of ground, after 7ea99ed1b6714702bd5343b786c98bee replacing the capital 7ea99ed1b6714702bd5343b786c98bee laid out, procures twenty bushels of grain as
profit, the employment of a more efficient capital, say a plough, on the 7ea99ed1b6714702bd5343b786c98bee same piece of land, after fully 7ea99ed1b6714702bd5343b786c98bee replacing the capital, will bring in more
profit, say sixty 7ea99ed1b6714702bd5343b786c98bee bushels, "because a capital of greater productive power has been employed." But the same natural principle obtains in the
complicated relations of our actual economic life. There also it is "natural" that 7ea99ed1b6714702bd5343b786c98bee the capitalist should share the product with the labourers
in the 7ea99ed1b6714702bd5343b786c98bee ratio of the productive power of his 7ea99ed1b6714702bd5343b786c98bee capital to the productive power of the labourers. If, in a production that has JNVGTSI hitherto employed a hundred
workers, a machine is introduced which replaces the power of fifty workers, the capitalist has a natural AWR claim to one-half XBRQETEOC the total product, or the </p>
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<p>wage of fifty labourers. 7ea99ed1b6714702bd5343b786c98bee This natural relation is only disturbed 7ea99ed1b6714702bd5343b786c98bee by one thing; that the capitalist FUX plays a double rôle. Not only does he contribute his capital to the common
co-operation, but he connects with that a second hi, the buying of labour. In virtue of the former, he would always receive the natural profit OAIF .</p>
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