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abstinence theory according Adolf Wagner agio theory Böhm-Bawerk Capital and Interest capital consumed capitalist Carver causes CHAPTER connected consumed capital consumption coöperation cost criticism Das Kapital deducted desire for accumulation Dietzel doctrine eclectic effective desire Effertz elements equal example existence explanation of interest exploitation theory expressed factors of production future enjoyments future pleasures gratification gross product gross return imputation increase influence instruments interest problem Jevons John Rae Journal of Economics Karl Menger labour theory labour-cost law of value literature magnitude marginal utility Marx ment natürliche Wert opinion phenomenon pieces Positive Theory principle productivity of capital productivity theory Professor Marshall psychological fact quantity Quarterly Journal question Rae's rate of profit regarding remuneration sacrifice of abstinence sacrifice of labour sacrifice of waiting saving Smart's translation social Stolzmann surplus surplus value theorists theory of interest theory of value tion unit of provisions Wieser yield
Page xi - they thus reached a social justification of interest which no one of them probably ever mistook for a scientific ascertainment of the cause of interest...
Page xx - In that case, every instrument would find a place, in some part of a series, of which the orders were determined by the period of time at which instruments placed in them, issue, or would issue, if not before exhausted, in events equivalent to double the labor expended in forming them.
Page 22 - On the other hand the supply of capital is controlled by the fact that, in order to accumulate it, men must act prospectively: they must "wait" and "save," they must sacrifice the present to the future.
Page 141 - B0hm-Bawerk, as an advocate of the agio theory, draws the conclusion that " nowadays it may be considered as a recognized truth that the final causes of the phenomenon of interest are to be found, on the one hand, in certain facts of the technique of production, and, on the other, in the postponement of enjoyment.
Page 54 - C B', two years hence corresponding to C' B", etc. Since this is the last increment saved, one year's interest throughout the field would correspond to A' C, two years' interest to A