Capital and Interest: A Critical History of Economical TheoryRepresents vol. 1 of the 3 vol. work: Kapital und kapitalzins. In the German edition this vol. has also the specific title: Geschichte und Kritik der kapitalzins-theorien. |
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Common terms and phrases
Adam Smith amount argument borrower called canon doctrine canonists capital value capitalist cent century chap circumstances claim commodities conception costs demand duction durable economical edition employed Endemann exchange value existence expression fact fruit fungible Gebrauch give given gross interest Hermann hire Hugo Grotius income independent interest on capital interest problem interest theory Knies land-rent later Lauderdale lender lent loan interest machine material services means means of production Molinaeus Naïve Productivity theory natural interest natural powers Nutzung obtain origin of interest owner paid passage payment perishable phenomenon Physiocrats piece of land power of capital productive power productive services productivity of capital prohibition proportion proposition quam quantity question quod rate of interest rate of profit real capital recognises rent Ricardo Roscher sacrifice Salmasius Sonnenfels surplus value theoretical theorists theory of interest thing Thünen tion Turgot usura Usuris wealth whole words writers
Popular passages
Page 360 - The real price of every thing, what every thing really costs to the man who wants to acquire it, is the toil and trouble of acquiring it.
Page 68 - As soon as stock has accumulated in the hands of particular persons, some of them will naturally employ it in setting to work industrious people, whom they will supply with materials and subsistence, in order to make a profit by the sale of their work, or by what their labour adds to the value of the materials.
Page 363 - If among a nation of hunters, for example, it usually costs twice the labour to kill a beaver which it does to kill a deer, one beaver should naturally exchange for or be worth two deer. It is natural that what is usually the produce of two days...
Page 363 - In that early and rude state of society which precedes both the accumulation of stock and the appropriation of land, the proportion between the quantities of labour necessary for acquiring different objects seems to be the only circumstance which can afford any rule for exchanging them for one another.
Page 67 - In exchanging the complete manufacture either for money, for labour, or for other goods, over and above what may be sufficient to pay the price of the materials, and the wages of the workmen, something must be given for the profits of the undertaker of the work, who hazards his stock in this adventure.
Page 69 - In this state of things, the whole produce of labour belongs to the labourer; and the quantity of labour commonly employed in acquiring or producing any commodity, is the only circumstance which can regulate the quantity of labour which it ought commonly to purchase, command, or exchange for.
Page 363 - It is natural that what is usually the produce of two days' or two hours' labour should be worth double of what is usually the produce of one day's or one hour's labour.
Page 360 - By far the greatest part of those goods which are the objects of desire, are procured by labour ; and they may be multiplied, not in one country alone, but in many, almost without any assignable limit, if we are disposed to bestow the labour necessary to obtain them.
Page 301 - 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 effects of labour...
Page 301 - Nor is it so strange as, perhaps, before consideration, it may appear, that the property of labour should be able to overbalance the community of land, for it is labour indeed that puts the difference of value on everything; and let any one consider what the 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 in common without any...