The wind, as a direct motive power, is wholly inapplicable to a system of machine labour, for during a calm season the whole business of the country would be thrown out of gear. Before the era of steam-engines, windmills were tried for draining mines; but though they were powerful machines, they were very irregular, so that in a long tract of calm weather the mines were drowned, and all the workmen thrown idle.
Labour once spent has no influence on the future value of any article; it isgone and lost for ever. In commerce bygones are forever bygones; and we are alwaysstarting clearat each moment, judging the values of things with a view to future utility.
The whole result of continued labour is not often consumed and enjoyed in a moment; the result generally lasts for a certain length of time. We must then conceive the capital as being progressively uninvested.
I consider that interest is determined by the increment of produce which it enables a labourer to obtain, and is altogether independent of the total return which he receives for this labour.
There is no such thing as absolute cost of labour; it is all a matter of comparison. Every one gets the most which he can for his exertions; some can get little or nothing, because they have not sufficient strength, knowledge or ingenuity; others get much, because they have, comparatively speaking, a monopoly of certain powers.
The calculus of utility aims at supplying the ordinary wants of man at the least cost of labour.
Capital simply allows us to expend labour in advance.
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