Grundzüge des positiven Völkerrechts

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Monograph

Identifikator:: 1024339858

URN:: urn:nbn:de:zbw-retromon-61868

Document type:: Monograph

Author:: Strupp, Karl http://d-nb.info/gnd/117677515

Title:: Grundzüge des positiven Völkerrechts

Place of publication:: Bonn

Publisher:: Ludwig Röhrscheid Verlag

Year of publication:: 1921

Scope:: 1 Online-Ressource (VII, 251 Seiten)

Collection:: Economics Books

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Sec. 3] CAPITAL 57 elements, “capital goods”; Knies,' the futurity of satis- factions; Jevons,® and Landry,’ specifically the time be- tween the “investment” of the capital and its return. §3 It is idle to attempt any reconciliation between concepts of capital so conflicting, and yet there are elements of truth in all. Though generally wrongly and narrowly interpreted, there are certain recurrent ideas which are entirely correct. The definitions concur in striving to ex- press the important facts that capital is productive, that it is antithetical to income, that it is a provision jor the future, or that it is a reserve. But they assume that only a part of all wealth can conform to these conditions. To the authors of the definitions quoted, it would seem absurd to include all wealth as capital, as there would be nothing left with which to contrast it and by which to define it. And yet, as Professor Marshall says, when one attempts to draw a hard-and-fast line between wealth which is capital and wealth which is not capital, he finds himself “on an in- clined plane,” constantly tending, by being more liberal in his interpretation of terms, to include more and more in the term capital, until there is little or nothing left outside of it. We are told, for instance, that capital is “wealth for future use.” But “future” is an elastic term. As was shown in Chapter II, all wealth is, strictly speaking, for future use. It is impossible to push back its use into the past; neither is it possible to confine it to the present. The present is but an instant of time, and all use of wealth requires some duration of time. A plateful of food, how- ever hurriedly it is being eaten, is still for future use, though the future is but the next few seconds; and if by “future” we mean to exclude the “immediate future,” where is the ! Das Geld, 2d ed., 1885, pp. 69-70. 2 Theory of Political Economy, 3d ed., 1888, Chup. VII, pp. 222-242 8 I’ Intérét du Capital, Paris (Giard), 1904, p. 16.

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Object: The nature of capital and income

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