Half Past Twelve Dinner Hour Studies for the Odd Half Hours

Cover Half Past Twelve Dinner Hour Studies for the Odd Half Hours
Half Past Twelve Dinner Hour Studies for the Odd Half Hours
George Woolley Gough
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His dead capital depreciates, and he wants back each year the amount by which it has depreciated. He works himself, and for this he wants an amount at least equal to what he could earn as the servant of an employer. If he gets all these he is satisfied, and must be satisfied, for in the long run he can get no more. Let us further suppose that on each farm all these required sums can be met from a yield of 10, 000 bushels of corn. It is ex- tremely unlikely that the yield of the farms will be al...ike, and consequently we can fix on any arbitrary but reasonable numbers : let us say, then, the first farm yields 10, 000 bushels, the second 11, 000 bushels, and the third 12, 000 bushels. Now we have carefully made all the factors of production that can be controlled by human foresight exactly equal for each of the three farms. Yet nobody expects these equal sets of factors to produce equal results. And why ? Because the final result in farming is affected by a factor which man cannot control the natural advantages of the soil.

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