Principles of Economics Being a Revision of Introduction to Economics
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In our eReader you can find the full English version of the book. Read Principles of Economics Being a Revision of Introduction to Economics Online - link to read the book on full screen. Our eReader also allows you to upload and read Pdf, Txt, ePub and fb2 books. In the Mini eReder on the page below you can quickly view all pages of the book - Read Book Principles of Economics Being a Revision of Introduction to Economics
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DISTRIBUTION: INTEREST 149. Interest has already been defined as what is paid for the use of capital. From the point of view of distribution it is the share of income that is assigned to capital goods, or more accurately to the owners of such goods, for the part these play in production. The great variety of capital goods and the diversity of the services which they render were dis- cussed in a previous chapter (Section 83). As there ex- plained (Section 78), the creation of capital goods requi...res, in addition to the factors involved in all production, saving, abstinence and waiting. Those who convert their incomes into capital instead of spending them contribute to production in these ways just as truly as do workmen by their activities. And just as ' ' labor in and for itself is not valuable ' ' but only " because through it valuable goods are produced " (Section 105), so capital goods are only valuable because they too assist production.
The problem of interest, like the problem of wages, is three- fold.
What to read after Principles of Economics Being a Revision of Introduction to Economics?
You can find similar books in the "Read Also" column, or choose other free books by Henry R Henry Rogers Seager to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
DISTRIBUTION: INTEREST 149. Interest has already been defined as what is paid for the use of capital. From the point of view of distribution it is the share of income that is assigned to capital goods, or more accurately to the owners of such goods, for the part these play in production. The great variety of capital goods and the diversity of the services which they render were dis- cussed in a previous chapter (Section 83). As there ex- plained (Section 78), the creation of capital goods requi...res, in addition to the factors involved in all production, saving, abstinence and waiting. Those who convert their incomes into capital instead of spending them contribute to production in these ways just as truly as do workmen by their activities. And just as ' ' labor in and for itself is not valuable ' ' but only " because through it valuable goods are produced " (Section 105), so capital goods are only valuable because they too assist production.
The problem of interest, like the problem of wages, is three- fold.
What to read after Principles of Economics Being a Revision of Introduction to Economics?
You can find similar books in the "Read Also" column, or choose other free books by Henry R Henry Rogers Seager to read onlineMoreLess
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