Principles of Political Economy: Abridged with Critical, Bibliographical, and Explanatory Notes, and a Sketch of the History of Political Economy — John Stuart Mill — John Shaqi
Principles of Political Economy: Abridged with Critical, Bibliographical, and Explanatory Notes, and a Sketch of the History of Political Economy
John Stuart Mill · en
Group D are productive laborers, and their _own necessaries_ are
productively consumed, but they are supplied by C, who keep themselves and
D in existence. So long as C work, both C and D can go on producing. If D
stopped working, they could be still subsisted as before by C; but A would
be forced to produce for themselves. But, if C stopped working, D and C
would be left without the necessaries of life, and would be obliged to
cease their usual work. In this way it may be seen how much more important
to the increase of material wealth C are than D, who labor “for the supply
of unproductive consumption.” Of course, group D are desirable on other
than economic grounds, because their labor represents what can be enjoyed
beyond the necessities of life.
Chapter III. Of Capital.
§ 1. Capital is Wealth Appropriated to Reproductive Employment.
It has been seen in the preceding chapters that besides the primary and
universal requisites of production, labor and natural agents, there is
another requisite without which no productive operations beyond the rude
and scanty beginnings of primitive industry are possible—namely, a stock,
previously accumulated, of the products of former labor. This accumulated
stock of the produce of labor is termed Capital. What capital does for
production is, to afford the shelter, protection, tools, and materials
which the work requires, and to feed and otherwise maintain the laborers
during the process. These are the services which present labor requires
from past, and from the produce of past, labor. Whatever things are
destined for this use—destined to supply productive labor with these
various prerequisites—are Capital.