chapter  14
7 Pages

THE THEORY OF LAND

The fact that new definitions of the concept of capital are constantly being proposed may only be explained by the assumption that the traditional definitions have failed to be entirely satisfactory. The chief reason for the search for those elements, which are operative in our daily thinking but are not yet significantly expressed in theory, is the remoteness of the scientific formulation of the concept from that of daily life. We shall return to and conclude this consideration, when we reach the discussion of the money form of capital. At present we would only emphasize the fact that the relation which we have established between the capital commodity or fractional capital and total capital is meant to facilitate the transition to the idea of every-day speech. This relationship entirely resolves the conspicuous contrast between the total, which is a permanent fund, and the good which is consumed. Because of this relationship it is seen that the individual commodity, considered as a part of the whole capital, must necessarily receive the standard of its use from the entire productive plant. The latter is constantly held to the task of replacing again and again all those portions which are consumed in use.