CHAPTER III

TURGOT’S FRUCTIFICATION THEORY

SO far as my knowledge of economical literature goes, I am bound to consider Turgot as the first who tried to give a scientific explanation of Natural Interest on capital, and accordingly as the first economist who showed the full extent of the problem.

CHAPTER IV

ADAM SMITH AND THE DEVELOPMENT OF THE PROBLEM

CHAPTER V

THE COLOURLESS THEORIES

BOOK II

THE PEODUCTIVITY THEOEIES

CHAPTER I

THE PEODUCTIVE POWER OF CAPITAL

CHAPTER II

THE NAÏVE PRODUCTIVITY THEORIES

THE founder of the Naïve Productivity theories is J. B. Say.

CHAPTER III

THE INDIRECT PRODUCTIVITY THEORIES

BOOK III

THE USE THEOEIES

CHAPTER I

THE USE OF CAPITAL

THE Use theories are an offshoot of the Productivity theories, but an offshoot which quickly grew into an independent life of its own.

CHAPTER II

HISTORICAL STATEMENT

THE development of the Use theory is associated for the most part with three names. J. B. Say first suggested it; Hermann worked out the nature and essence of the Uses, and so put the theory on a firm foundation; Menger gave it the most complete form of which, in my opinion, it is capable. All the writers that come between take one or other of these as their model, and although some of them are well worthy of attention, they are of secondary importance to those just mentioned.