WAGES,  PROFITS  AND  INTEREST  183

undeveloped  ;  and,  in  the  third  place,  capital
is  exported  from'  rich  countries  to  poor
countries  so  that,  in  consequence,  the  rate
of  interest  in  the  rich  countries  is  kept  up.
As  regards  this  last  point,  the  warning  \vill
not  be  out  of  place  that  we  must  not
jump  to  the  conclusion  that  the  prohibition
of  the  export  of  capital  would  necessarily
be  beneficial  —  or  the  reverse  —  to  the
non-capitalists  in  a  rich  country.  Were
the  exportation  of  capital  prohibited,  much
of  the  capital  which  would  otherwise  have
been  exported  would  not  have  been  saved  ;
and  the  exported  capital  makes  cheaper
the  goods  imported  into  the  country.  For
instance,  English  capital  which  goes  to
Canada  helps  to  furnish  us  with  cheaper  bread.
The  key-stone  in  the  theory  of  distribution ­
  is  left  to  discuss,  that  is  the  manner
in  which  the  remuneration  of  the  employer
is  governed.  His  remuneration  is  sometimes
spoken  of  as  profit,  but  “  profit  ”  is  an
equivocal  term  which  is  sometimes  employed
to  indicate  gross  interest,  and  sometimes
to  indicate  what  the  employer  makes  in  his
business,  whether  his  earnings  are  of  the
nature  of  interest  or  of  reward  for  the  work
that  he  does.  In  order  to  avoid  ambiguity,