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CONTENTS.
Chapter III. Of Unproductive Labour. Page § 1. Labour does not produce objects, but utilities55 2. —which are of three kinds57 3. Productive labour is that which produces utilities fixed and embodied in material objects58 4. All other labour, however useful, is classed as unproductive61 5. Productive and Unproductive Consumption64 6. Labour for the supply of Productive Consumption, and labour for the supply of Unproductive Consumption65 Chapter IV. Of Capital. § 1. Capital is wealth appropriated to reproductive employment68 2. More capital devoted to production than actually employed in it71 3. Examination of some cases illustrative of the idea of Capital74 Chapter V. Fundamental Propositions respecting Capital. § 1. Industry is limited by Capital79 2. —but does not always come up to that limit81 3. Increase of capital gives increased employment to labour, without assignable bounds83 4. Capital is the result of saving86 5. All capital is consumed88 6. Capital is kept up, not by preservation, but by perpetual reproduction92 7. Why countries recover rapidly from a state of devastation94 8. Effects of defraying government expenditure by loans95 9. Demand for commodities is not demand for labour99 10. Fallacy respecting Taxation111 Chapter VI. Of Circulating and Fixed Capital. § 1. Fixed and Circulating Capital, what114 2. Increase of fixed capital, when at the expense of circulating, might be detrimental to the labourers117 3. —but this seldom if ever occurs121
