Involuntary Idleness: An Exposition of the Cause of the Discrepancy Existing Between the Supply of and the Demand for Labor and Its Products (Classic Reprint) - Softcover
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Excerpt from Involuntary Idleness: An Exposition of the Cause of the Discrepancy Existing Between the Supply of and the Demand for Labor and Its Products
While engaged in the preparation of a treatise upon the subject of Social Rights and their relation to the distribution of wealth, the author had an opportunity to present some of the conclusions to which his studies have led at the meeting of the American Economic Association in Philadelphia, and on December 29, 1888, read a paper on "Involuntary Idleness."
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Involuntary Idleness (Classic Reprint)
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Paperback. Zustand: New. Print on Demand. This book investigates the causes of involuntary idleness, which the author suggests is a discrepancy between supply and demand across commodities and services. The author posits that society's definition of capital as 'wealth capable of bringing a revenue to its owner' lacks precision. The author suggests capital only achieves this capacity through its productive use and therefore proposes an alternative definition: wealth that is not in productive use. The author seeks to demonstrate that the common perception that capital begets capital, implying a power inherent within capital, is incorrect. Instead, the author proposes that the interest paid for the use of capital in productive processes is actually a compensation for the advantages that money offers as a medium of exchange. They conclude that interest rates are largely a derivative of the volume of money in circulation, which in turn is impacted by the volume of debt accrued by those who use money to procure capital. By extension, this also gives shape to capital profits, which are determined in relation to interest rates. This book is a valuable resource for economists seeking to understand the relationship between money and capital and for anyone seeking to grasp the interplay of interest rates and capital formation in capitalist systems. The author offers new perspectives on the concept of capital and its role in economic activity. This book is a reproduction of an important historical work, digitally reconstructed using state-of-the-art technology to preserve the original format. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in the book. print-on-demand item. Bestandsnummer des Verkäufers 9781330151334_0
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Involuntary Idleness An Exposition of the Cause of the Discrepancy Existing Between the Supply of and the Demand for Labor and Its Products Classic Reprint
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PAP. Zustand: New. New Book. Shipped from UK. Established seller since 2000. Bestandsnummer des Verkäufers LW-9781330151334
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Involuntary Idleness An Exposition of the Cause of the Discrepancy Existing Between the Supply of and the Demand for Labor and Its Products Classic Reprint
Anbieter: PBShop.store UK, Fairford, GLOS, Vereinigtes Königreich
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PAP. Zustand: New. New Book. Shipped from UK. Established seller since 2000. Bestandsnummer des Verkäufers LW-9781330151334
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