Die deutsche Hausindustrie

Bibliographic data

Monograph

Identifikator:: 1003351123

URN:: urn:nbn:de:zbw-retromon-16006

Document type:: Monograph

Author:: Koch, Heinrich

Title:: Die deutsche Hausindustrie

Edition:: Zweite, bedeutend erweiterte Auflage

Place of publication:: M. Gladbach

Publisher:: Volksvereins-Verlag GmbH.

Year of publication:: 1913

Scope:: 1 Online-Ressource (294 Seiten)

Digitisation:: 2017

Collection:: Economics Books

Usage license:: Get license information via the feedback formular.

Sec. 5] INCOME SUMMATION 149 their similarity. The same principle of equal and opposite services applies to both. When merchandise is changed from one warehouse to another, the first warehouse is credited with the change and the second debited. The warehouse which has rendered up the merchandise has done a service; that which has received it has done a disservice. A banker who takes money from his vault and puts it in his till will, if he keeps separate accounts for the two, credit the vault and debit the till. When wheat is imported from Canada, that nation is credited and the United States is debited with the value of the operation. We may, as in the case of continuous productive pro- cesses, divide up transportation districts by any arbitrary lines, and consider the passage of any articles across those lines as an interaction. §5 The third class of interactions is the change of owner- ship of wealth or property. This has been called transfer. Transfers usually occur in pairs, and involve two objects transferred in opposite directions between two owners. This double transfer, we have called an exchange. Since an exchange consists of two transfers, and since a transfer is a species of interaction and as such is self-canceling, every exchange is self-canceling and cannot of itself con- tribute anything to the total income of society.! When a bookseller, for instance, sells a book, he credits his stock with the fact that it has brought in money, and the cus- tomer debits his library to the same amount. ! The exchange does not duplicate income, but merely shuffles it about. It may and does put services of wealth where they are most needed, and thus results in a more effective use of income, just as credit and other forms of the divided ownership of wealth may make a more effective ownership of capital. In both these cases there is an increase of “total utility.” This needs to be considered in its proper place, but it must not stand in the way of our canceling the values of assets and liabilities or of services and disservices. These values, as is well known, are connected, not with total utilities, but with mar- ginal utilities.

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