Re: Don't Forget Mises -- and Dump the Third Way!

From: michael price (nini_pad_at_yahoo.com)
Date: 10/02/04 

Date: 2 Oct 2004 08:21:17 -0700

Ron Allen <rallen2@bellsouth.net> wrote in message news:<rE70d.82932$N11.67303@bignews5.bellsouth.net>...
> Robert Vienneau wrote:
> > I'm afraid you ignored the argument. The story
> > clearly had labor working with equipment. The
> > fact is very few households own blast furnaces
> > that they then sell to businesses.
>
>
> jmh wrote:
> > Which then would be what the owners of captial
> > contributed making the claim that owners
> > contributed nothing a false assumpion or a
> > conclusion violating one of the starting
> > assumptions--take you pick.
>
>
> Albert wrote:
> > In that the owners of capital allow only the
> > *use* raw materials and the *use* of their
> > equipment and land, retaining ownership of
> > everything, can it really be said that they
> > 'contribute' anything?

  Yes, the raw materials and the use of the capital.
You really are thick aren't you? The fact is that
use of capital is needed and someone has to contribute
it.

> Can you contribute to
> > yourself? Honesty and clarity would seem to
> > argue for a different word that more accurately
> > describes what is happening. The word
> > 'contribute' in this context is simply Newspeak.
>
>
> Ron Allen answers:
> The the jargon of Economics, the capitalist is
> said to advance capital. We usually associate
> the word "contribute" with the giving of labor,
> or of labor's produce.

  And the use of capital is the produce of labour,
or did the capital just appear by magic?

> The capitalist does
> advance capital, but the capitalist does not
> contribute labor.
>
  Sure he does, indirect labour that he owns.

>
> <><><><><><><><><><>
>
>
> "He who knows only his own side of the case, knows
> little of that."
> -- John Stuart Mill

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