The Third Factor of Production
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The Third Factor of Production

The Third Factor of Production


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Purchase of this book includes free trial access to www.million-books.com where you can read more than a million books for free. This is an OCR edition with typos. Excerpt from book: THE CAUSE OF A CRISIS. (Fliirscheim's Theory.) MONEY. No one, I suppose, will dispute that the ruling power in the industrial world is money. It is money that hires labour, that buys goods, that starts enterprises, that is lent as capital, paid as interest, collected as taxes. The farmer may want his land tilled, and the labourer may be ready to till it; but unless the farmer has money to pay wages, the soil remains untilled and the labourer unemployed. The shopkeeper may have clothes (and other goods) offered for sale, and the man outside may be sorely in want of them, but unless he has money to buy them with, the clothes remain unsold and the man unclothed. Affairs are so constituted that nothing can be done without money. Money failing, exchange ceases; and exchange ceasing, production stops, for production cannot be carried on without exchange. No one produces everything for himself. He must get food from one, clothes from another, tools from this man, materials from that, transport from a third, and none of these things can be got for nothing; something must be given in exchange, and the only thing that will be accepted is money. Money, in short, is to the industrial body what blood is to the physiological body. Not only must it be present but itmust circulate. What is this money, the circulation of which is so vital a necessity? Coin, says someone. We see and handle it daily. Well, coin is one form of money certainly, and in its way a most important form ' still, it is only one form, and a very subsidiary form. The man who is recognised by all as a moneyed man has very little coin, often not more than a few shillings in his possession, and the greater his wealth the smaller always is the proportion that he holds in coin. The largest transaction...


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Product Details
  • ISBN-13: 9781458907455
  • Publisher: General Books
  • Publisher Imprint: General Books
  • Height: 246 mm
  • No of Pages: 84
  • Spine Width: 4 mm
  • Width: 189 mm
  • ISBN-10: 1458907457
  • Publisher Date: 01 Jan 2012
  • Binding: Paperback
  • Language: English
  • Returnable: N
  • Weight: 168 gr


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