Capital and Interest: A Critical History of Economical Theory (Classic Reprint) - Couverture souple

Eugen Von Böhm-Bawerk

Couverture souple

ISBN 10 : 1330456599 ISBN 13 : 9781330456590

Editeur : Forgotten Books, 2018

Synopsis

Explore the evolution of how we understand value and interest. This concise study surveys competing theories and traces how ideas about capital, time, and value shaped economic thought.

This edition focuses on the Use theory and its rivals, showing how debates about productive services, exchange value, and the role of time moved the field forward. It presents clear distinctions between productivity and distribution, and explains why many early explanations fell short of the mark. The author argues that the root of interest lies in value and time, not just in production.

• How the concept of capital changes from old to new theories


• Why time affects how people value goods and future income


• Different schools of thought, from earlier use theories to productivity and exploitation ideas


• A rigorous, historical look at how economists approached the interest problem

Ideal for readers of economic history, theory, and those curious about how today’s ideas about value and interest were formed.

A propos du livre

Présentation de l'éditeur

Excerpt from Capital and Interest: A Critical History of Economical Theory

The portion of total "profit" obtained by the private employer or undertaker, as such, is here eliminated; or, rather, it is made definite and measurable in being divided among the managing director, the ordinary directors, and the secretary, who are paid a fixed fee, salary, or, accurately and simply, a wage.

A careful consideration of the balance sheet of any such company will guard us against a common misunderstanding. Such a balance sheet will generally show two funds - a Depreciation Fund and an Insurance Fund. The former, sometimes called Sinking, Wear and Tear, Repairs, or Replacement of Capital Fund, secures that fixed capital, or its value, is replaced in the proportion in which it is worn out, and thus provides a guarantee that the value of the parent capital is not encroached upon, or inadvertently paid away in dividend. The latter, sometimes called Equalisation of Dividend Fund, is a provision for averaging the losses that are sure to occur over a series of years, and are really a portion of the current expenses. It is only after these funds are provided for that the dividend is paid over to the shareholders, and this accentuates two important facts: (1) that interest properly so called is something distinct from any portion of parent capital, and (2) that it is not accounted for by insurance against risks.

The question now is, Is such a dividend pure interest? Here we have to reckon with the familiar fact that limited companies, under similar conditions, pay the most various rates of dividend. If then we accept "dividend" as the equivalent of "interest" we shall have to conclude that varying rates of interest are obtainable on equal amounts of capital. On looking closer, however, we find the dividing line again reasserting itself. If a sound industrial company is known to be paying a dividend higher than a certain definite percentage on its capital, the va...

Présentation de l'éditeur

This book was originally published prior to 1923, and represents a reproduction of an important historical work, maintaining the same format as the original work. While some publishers have opted to apply OCR (optical character recognition) technology to the process, we believe this leads to sub-optimal results (frequent typographical errors, strange characters and confusing formatting) and does not adequately preserve the historical character of the original artifact. We believe this work is culturally important in its original archival form. While we strive to adequately clean and digitally enhance the original work, there are occasionally instances where imperfections such as blurred or missing pages, poor pictures or errant marks may have been introduced due to either the quality of the original work or the scanning process itself. Despite these occasional imperfections, we have brought it back into print as part of our ongoing global book preservation commitment, providing customers with access to the best possible historical reprints. We appreciate your understanding of these occasional imperfections, and sincerely hope you enjoy seeing the book in a format as close as possible to that intended by the original publisher.

Détails de l'édition

• Éditeur: Forgotten Books
• Date d'édition: 2018
• Langue: anglais
• ISBN 10: 1330456599
• ISBN 13: 9781330456590
• Reliure: Broché
• Nombre de pages: 478
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