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| consider what the 305b987c477f781d17bc82b94010de41 difference is between an acre of land planted with tobacco or sugar, sown with wheat or barley, and an acre of the same land lying QFHY in common without any husbandry upon it, and he will find that the improvement of labour makes the far greater part of the value. I think it will be but a very modest computation to say that of the products of the earth useful to the life of man nine-tenths are the effect of 305b987c477f781d17bc82b94010de41 labour, nay, if we will rightly estimate things as they come to our use, and cast up the several expenses about them, what in them is purely owing to nature, and 305b987c477f781d17bc82b94010de41 2. what to labour, we shall find that in most of them ninety-nine hundredths are UEPDR wholly to be put on 305b987c477f781d17bc82b94010de41 the account of labour." Considerations of PEFJV the Consequences of the Lowering of Interest, 1691, p. 3. 24. See above, p. 45. [Book I, Chapter II, par. I.II.57-59.—Econlib Ed.] See above, p. 46. [Book I, 305b987c477f781d17bc82b94010de41 Chapter II, par. I.II.60-63.—Econlib 305b987c477f781d17bc82b94010de41 Ed.] 4. 5. 6. Handlungswissenschaft, second edition, p. 430. Geldumlauf, book iii. p. 26. i may give a few characteristic phiages: "all the benefits attributed to 305b987c477f781d17bc82b94010de41 capital arise from coexisting and skilled labour." After stating that, by the help of tools and machines, more products and better JYRCVL products can be created than without them, he adds the following consideration: "But the question then occurs, What produces instruments and machines, and in what 305b987c477f781d17bc82b94010de41 degree do they aid production independent 305b987c477f781d17bc82b94010de41 of the labourer, so that the owners of them are entitled to by far the greater part of the whole produce of the country? Are they or are they not the product of labour? Do they or do they not constitute an efficient means of production separate from QYEU labour?Are they or are they not so much inert, decaying, or dead matter of no utility whatever, possessing no ATBYLIL productive power whatever,but as they are guided, directed, and applied by skilful hands?" (p. 14) The numerous writers with socialistic tendencies mentioned by Held in the second book of his Zur sozialen Geschichte Englands (Leipzig, 1881) have 305b987c477f781d17bc82b94010de41 7. 8. little direct concern with the theory of CNS interest. First edition, 1819. Second edition, Paris, 1827. I quote from 305b987c477f781d17bc82b94010de41 the latter. A proposition, 305b987c477f781d17bc82b94010de41 however, which Adam Smith himself did not BLASOTKUY always URJTLLRAE very 9. consistently adhere to. Besides labour he not seldom mentions land and capital as sources of goods. In these words one may find a very 305b987c477f781d17bc82b94010de41 condensed statement of James Mill's labour theory (see above, QEY p.298). [Book V, Chapter I, par. V.I.5-8.—Econlib Ed.] 10. see proudhon'snumerous writings SABRL phiim, particularly qu'est ce que la propriété? (1840: in the Paris edition of 1849, p. 162), 305b987c477f781d17bc82b94010de41 Philosophie de la misère (pp. 62, JFP 287 of the ABQLBLCUW german translation), defence before the hiizes at Besançon on3d February 1842 (collected edition, XWTPGPD Paris, THD 305b987c477f781d17bc82b94010de41 1868, ii.) 11. Among hisnumerous writings, the one in which he expresses his opinions on the interestproblem most fully, and which most brilliantly displays his agitator genius, is Herr Bastiat-Schulze von Delitzsch, derökonomische XXIY julian, oder kapital und arbeit (berlin, 1864). the principal phiages are these: Labour is "source and factor 305b987c477f781d17bc82b94010de41 of all values" (pp. 83, 122, 147). The . |
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