Principles of Political Economy, Vol. 1Roscher, Wilhelm
History
Principles of Political Economy, Vol. 1
Roscher, Wilhelm
Economics
279 Productive capital has been rendered into German by the word
_Erwerbstamm_, by the author of “Staatswirthschaft nach
Naturgesetzen,” 1819. _Malthus_, Definitions, ch. 10, and _Rau_,
Lehrbuch, I, § 51, call productive capital alone, capital. According
to _M. Chevalier_, goods lose their quality of capital as soon as
they come into the hands of a consumer. _Schäffle_, N. Œk., II,
aufl., 59, calls capital in use _Genussvermögen_ (resources intended
for enjoyment) and productive capital, _Kapitalvermögen_
(capital-resources). On the other hand, _J. B. Say_, Traité, I, 13;
_McCulloch_, Principles, II, 2, 3, _Hermann_, Staatswirthschaft.
Untersuchungen, p. 60 ff., and _v. Mangoldt_,
Volkswirthschaftslehre, 122, divide capital into capital in use and
productive capital, according as it provides the possessor with that
which he may turn to account directly or indirectly by becoming the
owner of goods through its means. _Aristotle_ distinguishes between
ὄργανα and κτήματα, the former relating to ποίησις; for instance, a
shuttle; the latter to πράξις, as, for instance, bedding and
articles of dress. (Polit., I, 2, 5.)
280 Thus, for instance, class A embraces parks and forests; B, theaters,
churches, manufactories, arsenals, granaries, public walks and
roads. Walks can, besides, be used for the cultivation of fruit, and
roads for pleasure trips.
281 Translated “capital de consommation” by Wolowski, p. 96 of his
Roscher’s Principles.—_Translator’s note._
282 Dead, or better, dormant capital is such productive capital as, for
the time being, remains unused, and which, therefore, does not yield
even personal enjoyment. The sum total of this kind of capital is
very much diminished by the agency of savings banks. Loaned capital
which has been employed unproductively evidently constitutes no
longer a part of the wealth of a people. See _infra_, § 189.
_ 283 Wolkoff_ is so far right, when in his Lectures, p. 142, he calls
the return of capital in use not _revenu_, but _déstruction
graduelle_. _Schäffle_ is right, too, and entirely so, when he says
that only such an increase of the property, intended for enjoyment
simply, is anti-economic, as does not make the personal capacities
of labor (_Arbeitsvermögen_) as much more productive than they would
otherwise be. N. Œk., II, aufl., 224.
_ 284 Humboldt_, N. Espange, II, ch. 17; _v. Schlözer_, Anfangsgründe,
II, 109. Ausland, 140, No. 313. On the extraordinary wealth of even
Russian peasant women in pearls, see _v. Haxthausen_, Studien, 87,
309.
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