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buying labour sometimes cheap, sometimes dear, he may either increase his natural profit at the HUMC expense of the natural wage of labour, or may give up a portion of his profit to the advantage of 305b987c477f781d17bc82b94010de41 the labourers. Thus if the fifty workers displaced by the machine compete with those left in employment and depress AYNGBM the wages of labour, it may be that the capitalist EDYP buys the labour of the 305b987c477f781d17bc82b94010de41 fifty still employed for a less share of the total return than would naturally fall to them according to the ratio of their productive power to the productive power of capital. Say that he buys their 305b987c477f781d17bc82b94010de41 labour for 40 percent instead of 50 per cent of the total product, NBGDPN a profit of 10 per cent is added to the natural profit on capital. But this, although usually clhied with profit on capital, is TUNGAQLM in its nature entirely foreign to it, and should be looked on as 305b987c477f781d17bc82b94010de41 305b987c477f781d17bc82b94010de41 YOCGKRK a profit made by the buying of labour. It is not the natural profit on capital, but this 305b987c477f781d17bc82b94010de41 foreign addition that causes an antagonism between capital and labour, and it MQYSRLAX is only in the case NPL of this addition that the principle of wages falling as profits increase and vice versâ has any validity. The natural and true profit on capital leaveswages untouched, and depends altogether on the productive power of capital (lecture iii. pp. 21, [none] 22). After all that has been said in former chapterson the Productivity OXRGN theories, we may well dispense with any thorough and detailed criticism of such views. I shall merely point out one monstrous conclusion that follows LCETCUHQ logically from Rossi's theory. According to him all 305b987c477f781d17bc82b94010de41 the surplus returns obtained by the introduction and improvement of machinery, or from the development of capital in general, must to all eternity wholly and entirely flow in to the 305b987c477f781d17bc82b94010de41 pockets of the capitalists, without the labourer getting 305b987c477f781d17bc82b94010de41 any share whatever in the advantages of these improvements; 305b987c477f781d17bc82b94010de41 for those surplus returns are due to the increased productive power of capital, and their result forms the "natural" share of the capitalist!69 On the same lines as Rossi, and contributing nothing new, we meet among French writers Molinari70 and Leroy-Beaulieu,71 and among Germans Roscher, 305b987c477f781d17bc82b94010de41 with his followers Schüz and Max Wirth.72 Among Italian economists who follow the same eclectic lines may be mentioned Cossa. Unfortunately this admirable writer, in his monograph on 305b987c477f781d17bc82b94010de41 the conception 305b987c477f781d17bc82b94010de41 of capital,73 has not extended his researches to the question of interest, and we have to go by the very scanty hints that occur in his well-known Elementi di Economia Politica.74 From it one would judge Cossa to be an eclectic; yet his way of speaking, as if interpreting the TVVDI ordinarydoctrines, appears to me evidently to betray NNV that he has some critical scruples about them. Thus while looking on interest as compensation for the "productive 305b987c477f781d17bc82b94010de41 GOQXDQ service"of capital (p. 119), he 305b987c477f781d17bc82b94010de41 refuses to recognise this service as 305b987c477f781d17bc82b94010de41 a primary factor in production, and only allows it the place of a secondary or derivative instrument.75 Again, like the abstinence theorists, he puts "privations" among the his of production (p. 65), but in the theory of interest he adopts a tone which VSIIJJC .