The Modern Distributive Process. Studies of Competition And Its Limits ..
The Modern Distributive Process. Studies of Competition And Its Limits ..
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Mercantile labor as well as mechanical is entitled to wages, and circulating capital as well as fixed is entitled to interest. A mercantile wage constitutes the second part of the general wage of business management ; and an item of interest on circulating capital constitutes a part of the general claim of capital.
The labor involved in buying and selling is only incidental to the mercantile function. It is not the essence of it ; that lies in the mere acquiring and surrendering of ownership. I...t is because the elements that enter into a product come succes- sively into an employer's possession, and then pass collectively out of it, that he can look for a return over and above the wages of every kind of labor and the interest of every kind of capital involved in the business operation. We must group in one item all that comes to an employer in compensation for effort of any kind, and in another all that goes to compensate the capitalist.
The general wage of business management constitutes one of the preferred claims on the returns of business; it must be deducted from them before final profits can be computed.
What to read after The Modern Distributive Process. Studies of Competition And Its Limits ..?
You can find similar books in the "Read Also" column, or choose other free books by Clark, John Bates, 1847-1938 to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
Mercantile labor as well as mechanical is entitled to wages, and circulating capital as well as fixed is entitled to interest. A mercantile wage constitutes the second part of the general wage of business management ; and an item of interest on circulating capital constitutes a part of the general claim of capital.
The labor involved in buying and selling is only incidental to the mercantile function. It is not the essence of it ; that lies in the mere acquiring and surrendering of ownership. I...t is because the elements that enter into a product come succes- sively into an employer's possession, and then pass collectively out of it, that he can look for a return over and above the wages of every kind of labor and the interest of every kind of capital involved in the business operation. We must group in one item all that comes to an employer in compensation for effort of any kind, and in another all that goes to compensate the capitalist.
The general wage of business management constitutes one of the preferred claims on the returns of business; it must be deducted from them before final profits can be computed.
What to read after The Modern Distributive Process. Studies of Competition And Its Limits ..?
You can find similar books in the "Read Also" column, or choose other free books by Clark, John Bates, 1847-1938 to read onlineMoreLess
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