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between XHGXTIVW the alleged result, the interest of capital, 305b987c477f781d17bc82b94010de41 and the hierted cause, the expenditure of labour on the part of the capitalist. But in the actual world we should look for any such relation in vain. A million bears £50,000 of interest, whether the saving and employment of the million has 305b987c477f781d17bc82b94010de41 hi WAH its owner much, little, or no trouble. a million 305b987c477f781d17bc82b94010de41 bears ten thousand times as much interest as a hundred, even if PCWMALXGI there should be infinitely more anxiety and 305b987c477f781d17bc82b94010de41 vexation in the saving of the hundred GELCDK than in the saving of the million. The borrower who guards another man's capital and employs it, notwithstanding this "expenditure of labour," receives no interest; the owner receives it although his labour be nil. Schäffle himself once was 305b987c477f781d17bc82b94010de41 fain to confess: "A distribution of wealth according to amount and desert of work, obtains neither among the capitalists as compared with each other, XWEPU nor 305b987c477f781d17bc82b94010de41 among the workers as compared with the capitalists. The distribution EYDFTOBS is neither guided by any such principles nor yet does it harmonise with them accidentally."39 But if experience shows that interest stands outside 305b987c477f781d17bc82b94010de41 of any relation to the labour performed by the capitalist, how in reason can LBB the principle of its explanation be found there? I believe the truth is too plainly told in the BFAPI facts to need any long demonstration. Just as 305b987c477f781d17bc82b94010de41 NOQWWUK surely as interest bears no proportion to the labour put forth by the capitalist, does it stand in exact proportion to the fact of possession and to the amount of possession. BAU Interest on capital, to repeat my former words, is not an income from labour, but an income from ownership.40 Thus the Labour BXBS 305b987c477f781d17bc82b94010de41 theory of interest in all its varieties is seen to be incapable of giving a theoretical explanation that will stand examination. no unbihied person indeed could UIRXNNM expect any other result. no one but a person who takes particular delight in far-fetched explanations could for a moment doubt that the economic power QHBUKC of capital has some other ground behind it than a "capacity for labour" on the part of the capitalist. It is impossible to doubt that interest, not in name only but in reality, is CKS something different from a wage of labour. That economists should fall into various kinds 305b987c477f781d17bc82b94010de41 of Labour theories can only be explained by the custom prevalent ever since Adam Smith and Ricardo of tracing all value to labour. To enable them to force interest also into KYJCX the unity of this theory, and ascribe to it the origin which they supposed to be the only legitimate one, they did not hesitate at the most far-fetched and artificial explanations.41 [none] BOOK VI: THE EXPLOITATION THEORY? 305b987c477f781d17bc82b94010de41 Book VI, Chapter I: Historical Survey? We come now to that remarkable theory the enunciation ofwhich, if not themost agreeable among the scientific events GYKJ of our century, 305b987c477f781d17bc82b94010de41 certainly promises to be one of the most serious in its consequences. It stood at the cradle of modern Socialism and has grown up along with it; and to-day it 305b987c477f781d17bc82b94010de41 forms the theoretical centre around which move the forces of attack and defence in the struggle of organising human society. [none] This theory has as 305b987c477f781d17bc82b94010de41 yet no short distinctive name. If I were to give it one .