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Purchase of this book includes free trial access to www.million-books.com where you can read more than a million books for free. This is an OCR edition with typos. Excerpt from book: 20Q THE GROWTH OF CAPITAL. The conclusion that English Political Economy is an analysis only of industrial societies which are to a certain extent developed, will be strengthened by a consideration of the doctrines which that Political Economy teaches us as to one of the principal parts of the subject?the theory of the growth of capital. Our Political Economy does not recognise that there is a vital distinction between the main mode in which capital grows in such countries as England now, and the mode in which it grew in all countries at first. The principal way in which capital increases in England now, is by abstinence from enjoyment. We receive our incomes in money, and either we spend them on our enjoyments, in which case capital is not increased, for our incomes are all gone and no new productive thing is made, or we abstain from enjoyment and put our money into trade ourselves, supposing that we are in trade, and supposing that we are not in trade, lend it to those who are. The productive part of wealth?the wealth which creates other wealth?is augmented mainly by our not enjoying our incomes. But there is another mode of augmenting capital of which Defoe gives us, perhaps, a more vivid notion than we can get elsewhere. I cannot say, says Robinson Crusoe, that after this, for fiveyears, any extraordinary thing happened to me; but I lived on in the same course, in the same posture and place just as before; the chief thing I was employed in, besides my yearly labour of planting my barley and rice, and curing my raisins, of both which I always kept up just enough to have sufficient stock of the year's provisions beforehand; I say, besides this yearly labour, and my daily labour of going out with my gun, I had one labour to make me a canoe, which at last I finish...
| ISBN-13 | 9780217466332 |
|---|---|
| ISBN-10 | 0217466338 |
| Weight | 0.47 Pounds |
| Dimensions | 9.00 x 6.00 x 0.32 In |
| List Price | $19.99 |
| Format | Paperback |
|---|---|
| Pages | 136 pages |
| Publisher | |
| Published On | 2009-08-01 |
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