The Unseen Foundations of Society An Examination of the Fallacies And Failures

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XIII.
muscles, to go to new countries, where the rising stream of population will confer new value on their strength and skill. But still it is the condition of ownership in law which brings most into notice this universal feature in all values that they depend on the advent of a new, or of an increased demand. It was natural, therefore, that a theorist in California should see every objection and prejudice that can be arrayed against the operation of this law of Value as exhibited in the raw e
...xamples of a new country. Accordingly, it was evident that the writer had no conception of the continued outlays on land which have gone on for generations in old countries, and which have gradually incorporated centuries of equipment and of management with the bare original right of exclusive use over the soil.
9. But this was not the only speciality of the book which struck me at once, nor was it the most important. Another thing was clear. The whole conceptions of the book turned upon the Ricardian Theoiy of Rent, supplemented by the Ricardian Theory of Wages, and, moreover, upon an assumption without a question of the Ricardian Theory of Value in its crudest form.


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