Value And Distribution An Historical Critical And Constructive Study in Econo
Value And Distribution An Historical Critical And Constructive Study in Econo
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While the Aus- 228 VALUE AND DISTRIBUTION.
trian economists are undoubtedly right in their con- tention that among concrete commodities scarcity values are the rule, yet when we come to capital as the earner of interest per se, we clearly recognize that we here have the conditions of ideal free competi- tion, or those conditions in which, to use Marshall's phrase, marginal utility and marginal disutility " co- operate like the two blades of a pair of shears. " 115. Statement of the Normal- Valu...e Theory. — From this it follows that wdiat we have to show in any theory of interest is not that the multiplication of commodities will necessarily result in an increase of values, but, first, that the roundabout methods give rise to an increase of utilities ; and, secondly, that the supply of these utilities is relatively so lim- ited that the increase in utilities is coincident ivith an increase in value, or, as Bohm-Bawerk has himself written, " It is because the stock of present goods is always so low that the conjuncture for their exchange against future goods is always favorable.
What to read after Value And Distribution An Historical Critical And Constructive Study in Econo?
You can find similar books in the "Read Also" column, or choose other free books by C W Charles William Macfarlane to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
While the Aus- 228 VALUE AND DISTRIBUTION.
trian economists are undoubtedly right in their con- tention that among concrete commodities scarcity values are the rule, yet when we come to capital as the earner of interest per se, we clearly recognize that we here have the conditions of ideal free competi- tion, or those conditions in which, to use Marshall's phrase, marginal utility and marginal disutility " co- operate like the two blades of a pair of shears. " 115. Statement of the Normal- Valu...e Theory. — From this it follows that wdiat we have to show in any theory of interest is not that the multiplication of commodities will necessarily result in an increase of values, but, first, that the roundabout methods give rise to an increase of utilities ; and, secondly, that the supply of these utilities is relatively so lim- ited that the increase in utilities is coincident ivith an increase in value, or, as Bohm-Bawerk has himself written, " It is because the stock of present goods is always so low that the conjuncture for their exchange against future goods is always favorable.
What to read after Value And Distribution An Historical Critical And Constructive Study in Econo?
You can find similar books in the "Read Also" column, or choose other free books by C W Charles William Macfarlane to read onlineMoreLess
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