Principles of Political Economy, Vol. 2Roscher, Wilhelm
General
Principles of Political Economy, Vol. 2
Roscher, Wilhelm
Economics
When, later, the division of labor increases, all the differences of
men's aptitudes are turned to more advantage, and are more fully
developed. In the same proportion that a working class is developed, the
members of which are nothing but workmen, and can scarcely hope to
possess capital or land,[201-4] there grows up, side by side with it, a
class of mere capitalists, who come to obtain an ever-increasing
importance.
Considered from a purely economic point of view, this transition has its
great advantages. How much must the existence of a special class of
capitalists facilitate the concentration of capital and the consequent
promotion of production, as well as its (capital's) price-leveling
influx and outflow! Even "idle" capitalists have this of good, that,
without them, no competent man, destitute of means could engage in any
independent enterprise. When, indeed, the gulf between these two classes
passes certain bounds, it may, politically and socially, become a great
evil. (§ 63.)[201-5]
[Footnote 201-1: Among nations in their decline, rent and
interest fall into one possession again, because capitalists
here are wont to buy the land. (_Roscher_, Nationalökonomik
des Ackerbaues, § 140 ff.)]
[Footnote 201-2: Related to this peculiarity of the middle
ages is the fact that the canon law looked with disfavor on
the personal separation of the three factors of production.
So also in the prohibition of the _Weddeschat_ referred to §
161, instead of rent-purchase (_Rentekauf_), also by
extending the idea of partnership to a number of
transactions which are only forms of loan. (_Endemann_ in
_Hildebrand's_ Jahrb., 1863, 176 ff.) Antiquity also, with
the independence of its οἶκος, with its slavery, etc., had
not developed the difference between the three branches of
industry to any extent. _Rodbertus_, in _Hildebrand's_
Jahrbb., 1865, I, 343.]
[Footnote 201-3: If older writers, like _Steuart_, etc.,
speak so little of capital, labor and rent, and so much of
city and country, it is not on account of ignorance simply.
The contrast between the latter was then much more important
than to-day, and that between the former much less
developed. When, indeed, _Colton_, Public Economy of the
United States, 1848, 155 ff., claims that because in America
the three branches of income do not exist in so separated a
condition as in Europe, therefore European Political Economy
and its theories are not applicable to America, he forgets
that science should not be simply a description or
impression made of the reality, but an analysis of it.]
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