Individual And National Rights To Wealth Rest

I Admit That These Terms And The Diagrams Connected With Them Repel Some Readers, And Fill Others With The Vain Imagination That They Have Mastered Difficult Economics Problems, When Really They Have Done Little More Than Learn The Language In Which Parts Of Those Problems Can Be Expressed, And The Machinery By Which They Can Be Handled. When The Actual Conditions Of Particular Problems Have Not Been Studied, Such Knowledge Is Little Better Than A Derrick For Sinking Oil-wells Erected Where There Are No Oil-bearing Strata.

Consumption May Be Regarded As Negative Production.

Capital Is That Part Of Wealth Which Is Devoted To Obtaining Further Wealth.

But If Inventions Have Increased Man's Power Over Nature Very Much, Then The Real Value Of Money Is Better Measured For Some Purposes In Labour Than In Commodities.

Individual And National Rights To Wealth Rest On The Basis Of Civil And International Law, Or At Least Of Custom That Has The Force Of Law.