CAPITAL NOT A STOCK OF CONSUMABLE GOODS §5.

The argument was exceedingly complex in detail; but it boils down to this: The factories and machinery which are admittedly essential to production were themselves produced in exactly the same way as consumable goods.

Capital not a Stock of Consumable Goods.

People sometimes speak as though the commodities which constitute our capital, instead of being mainly, as our plain sense tells us that they are, factories, machinery and other durable instruments, were rather a store or stock of immediately consumable goods.

A large store of consumable goods is thus not a fundamental necessity of a prosperous society.

If it is argued that this power to produce consumable goods may be regarded as being in effect a store of consumable goods, it must be sternly replied that this is the language of symbolism, not of science, and that symbolism is highly dangerous in this connection.

If it is argued that this power to produce consumable goods may be regarded as being in effect a store of consumable goods, it must be sternly replied that this is the language of symbolism, not of science, and that symbolism is highly dangerous in this connection.

It was this that gave rise to the notorious doctrine of the Wages Fund; the notion that the sum which can at any time be paid in wages is equal to the quantity of capital, alias consumable goods, which happens to exist.

The store of consumable goods is what it is: the quantity of goods in process of manufacture, which will shortly be coming forward, is also what it is.

If the increased saving is considerable, the labor, materials, etc., required for these purposes will be withdrawn even under our present system, as under a smoothly working system they clearly must be, from the production of other and more immediately consumable things.

Hence, some time later, the supplies of consumable things will be diminished, while at a later period still they will be more than correspondingly increased as the result of the assistance of the new durable instruments.

The aggregate consumable income of the present is unaffected; the aggregate consumable income of the near future is actually diminished; it is not until at least some years later that the aggregate consumable income is increased. §6.

The aggregate consumable income of the present is unaffected; the aggregate consumable income of the near future is actually diminished; it is not until at least some years later that the aggregate consumable income is increased. §6.

The aggregate consumable income of the present is unaffected; the aggregate consumable income of the near future is actually diminished; it is not until at least some years later that the aggregate consumable income is increased. §6.

The aggregate consumable income of the near future will be diminished, but it may be better distributed, and it may consist of things of a different kind.

Consumable ed., 1937 revision.

Consumable ed. 1940 revision.

Laboratory and workbook units in chemistry; consumable edition.

Laboratory and workbook units in chemistry: non-consumable edition.

Consumable ed.

Consumable ed.

Consumable ed., 1937 revision.

Consumable ed. 1940 revision.

Laboratory and workbook units in chemistry; consumable edition.

Laboratory and workbook units in chemistry: non-consumable edition.