Jeremy Bentham, Economic Works Vol. III p. 143
"Second Proposition.
If the encrease of pecuniary credit were left without control, there would arrive a time when it would cease to produce an encrease of wealth"
This person has to be wrong here right? Even if the labor market is completely saturated as Bentham goes on to explain, then you could still outlay capital in productive machinery, or even research.
I mean there is no point where capital stops being productive, it's just that eventually faith in credit itself slips, not that the monetary unit, the article of wealth, or wealth itself, cannot be expended in productive things.
"Second Proposition.
If the encrease of pecuniary credit were left without control, there would arrive a time when it would cease to produce an encrease of wealth"
This person has to be wrong here right? Even if the labor market is completely saturated as Bentham goes on to explain, then you could still outlay capital in productive machinery, or even research.
I mean there is no point where capital stops being productive, it's just that eventually faith in credit itself slips, not that the monetary unit, the article of wealth, or wealth itself, cannot be expended in productive things.
