Der Wirtschaftskrieg

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Monograph

Identifikator:: 1031122125

URN:: urn:nbn:de:zbw-retromon-63440

Document type:: Monograph

Author:: Bernstein, Eduard http://d-nb.info/gnd/118509993

Title:: Die Berliner Arbeiterbewegung von 1890 bis 1905

Place of publication:: Berlin

Publisher:: J.H.W. Dietz Nachfolger

Year of publication:: 1924

Scope:: 1 Online-Ressource (439 Seiten)

Digitisation:: 2018

Collection:: Economics Books

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Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Erstes Kapitel. Die Entwicklung der inneren Politik Deutschlands seit 1890

Collection:: Economics Books

THE ENTREPRENEUR AND THE SUPPLY OF CAPITAL George E. Barnett El ED In the development of the theory of profits in English and American economics, attention has been directed chiefly to the function of the entrepreneur; that is, to the nature of the services rendered. The present paper is devoted to the task of bringing together such evidence as is available to indicate that the evo- lution in the theory of profits has not been due in reality so much to the better appreciation of the nature of entrepreneurial func- tion as to changes in the dominant forms of capitalism and in the mechanism for supplying capital to industry. The effect of these changes, it will be contended, has been to produce shifts in that factor of production to which profits attach themselves. A real change in distribution has been the underlying factor in much of the controversy as to function. If we begin, as most present-day economists do, with Profes- sor Clark’s definition of the undertaker as the owner of the product—profits are the remains of the whole receipts of the undertaking over and above the cost of the land, labor, including labor of management, and capital used. Profits are made up of various economic categories into which it is not necessary here to inquire more particularly, especially since they are of hetero- geneous kind and have never been adequately analyzed. The argument to be hereafter set forth is to the effect that under certain conditions this remainder as a totality falls to capital, under other conditions to labor management and under still other conditions to “active” or risk-taking capital. Whether it falls to one or the other depends chiefly on the kind and amount of capital required and the capital market prevailing at a given time or in a given industry. The present functional theories of profits tend to obscure the fact of these variations and to bring the theory of profits into a uniformity which is not in accord with the existing economic world

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