[What is Property? by P. J. Proudhon]@TWC D-Link book
What is Property?

CHAPTER III
77/90

It is therefore permissible to consider it as yielding an annual income of four thousand francs.

If the physician earns thirty thousand, there remains an income of twenty-six thousand francs due to the personal talents given him by Nature.

This natural capital, then, if we assume ten per cent.

as the rate of interest, amounts to two hundred and sixty thousand francs; and the capital given him by his parents, in defraying the expenses of his education, to forty thousand francs.

The union of these two kinds of capital constitutes his fortune."-- Say: Complete Course, &c.
Say divides the fortune of the physician into two parts: one is composed of the capital which went to pay for his education, the other represents his personal talents.


<<Back  Index  Next>>

D-Link book Top

TWC mobile books