[2] “Principles of Political Economy,” Vol. I, Index to chap. xvi (1865).
[3] “Manual of Political Economy,” Book II, chap. iii, p. 116 (1876).
[4] “Economics of Industry,” Book II, chap. iii, sec. 3, p. 84 (1879).
[5] “Principles of Political Economy,” Book II, chap. vii, p. 301 (1883).
[6] “Brief Text-book of Political Economy,” chap. ii, sec. 216, p. 173 (1885).
[7] “Principles of Political Economy and Taxation,” chap. ii. p. 34 (1817).
[8] Profit is here used colloquially to denote the excess of the value of an article over its cost.
[9] When one of the conditions of earning a wage is the keeping up of a certain state, subsistence wages may reach a figure to which the term seems ludicrously inappropriate. For example, a fashionable physician in London cannot save out of £1,000 a year; and the post of Lord Lieutenant of Ireland can only be filled by a man who brings considerable private means to the aid of his official salary of £20,000.
[10] The current rate must, under present conditions, eventually fall to zero, and even become “negative.” By that time shares which now bring in a dividend of 100 per cent, may very possibly bring in 200 or more. Yet the fall of the rate has been mistaken for a tendency of interest to disappear. It really indicates a tendency of interest to increase.
[11] This excess of the product of labor over its price is treated as a single category with impressive effect by Karl Marx, who called it “surplus value” (mehrwerth).