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Lectures on Economics. The Theory of Profits

1933

Schumpeter 225 The existence of property or durable goods as a store of future incomes is bound up with the possibi- lity of a surplus above the cost of living of the actual producers . 226 Property-creation dependent on the art of production 227 The influence of standard of living upon the supply-price of labour, capital and land . [...] This is clearly suggested by the heading of Book I of The Wealth of Nations, where to consider the Order of the Distribution of the Pro- duce Adam Smith refers to the different Ranks of the people. " Without such a meaning in his mind, he would not have stopped to argue and warn that the profits of stock must not be regarded as "only a different name for the wages of a 1 Haney in his History of Ec [...] The preface of his Principles opens with a statement of the division of "the produce of the earth" among the "three classes of the com- munity, namely, the proprietor of the land, the owner of the stock or capital and the labourers. " He speaks of "the proportions of the whole produce of the earth which will be allotted to each of these classes, under the names of rent, profit and wages. " He refe [...] 14 j. S. Mill describes profits as " the share 9, of the produce of the capitalist ; the profits of capital or stock ; the gains of the persons who advance the expenses of production. [...] like the cost of raising wheat from the soils of the lowest fertility) the cost of maintaining the employers of the lowest indus- trial grade necessarily enters into the normal price of produce.
commerce industry
Pages
468
Published in
India
SARF Document ID
sarf.100014
Segment Pages Author Actions
Preface
i-xxvi Prafulla Ghosh view
Chapter I. The Concept of Profit as a Class Income
1-24 unknown view
Chapter II. The Concept of Profit as a Entrepreneurs Remuneration
25-40 unknown view
Chapter III. The Concept of Pure Profit as the return of a New Factor of Production
41-93 unknown view
Chapter IV. The Concept of Residual Surplus as a Quantitative Description of Pure Profit
94-114 unknown view
Chapter V. The Marginal Productivity Theory and Entrepreneur’s Remuneration
115-163 unknown view
Chapter VI. The Relation of Risk or Uncertainty to Production and Profit
164-214 unknown view
Chapter VII. The Relation of Real Cost to Supply-Price
215-253 unknown view
Chapter VIII. The Peculiarities of the Present Economic Organisation and the Modern Entrepreneur’s Functions
254-296 unknown view
Chapter IX. The Process of Earning Business Income or Profits and the Factors that affect them
297-339 unknown view
Chapter X. The Nature of Profit
340-363 unknown view
Chapter XI. The Relation of Normal Profits to Industrial Equilibrium
364-435 unknown view
Index
436-442 unknown view

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