The Consumption of Wealth

Cover The Consumption of Wealth
The Consumption of Wealth
Simon Nelson Patten
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Both classes of efforts assume an objective form. Even the shortest of those series of efforts we call labor, makes objective changes. It is not scientific to regard the longer efforts as belonging to a separate class merely because the objective form they often assume is of so much more permanent a character, since there are still longer series of efforts having an increase of skill and knowledge as the main result. Any determined effort to educate a people must extend through a longer series ...of years than any plan to im- prove the land or to increase the supply of commodities.
If we look at these series of efforts in an objective way, we may call them all capital, and say that skill and knowledge are capital sunk in men as other parts of capital are sunk in land. In a subjective w r ay, we may view all these efforts as forms of skill. Skill is merely a way of economizing muscular exertion ; and the skillful man makes frequent use of objects because they enable him to avoid this exertion.


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