A Quote by Joseph Hume
I see no reason for giving the capital employed in agriculture greater protection than the capital vested in other branches of trade, manufacture, or commerce.
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The financial doctrines so zealously followed by American companies might help optimize capital when it is scarce. But capital is abundant. If we are to see our economy really grow, we need to encourage migratory capital to become productive capital - capital invested for the long-term in empowering innovations.
The duty of government is to leave commerce to its own capital and credit as well as all other branches of business, protecting all in their legal pursuits, granting exclusive privileges to none.
Capital, however capital may be defined, would practically cease to exist as an income producing fund, for the simple reason that if money, wherewith to buy capital, could be obtained for one-half of one per cent, capital itself could command no higher price.
capital is the result of saving, and not of spending. The spendthrift who wastes his substance in riotous living decreases the capital of the country, and therefore the excuse often made for extravagance, that it is good for trade, is based upon false notions respecting capital.
Capital requires protection, as do the institutions through which it operates. As capital expands its operations, the state that is associated with its protection must develop its capacity for autocratic control. Thus, the "Free World" increasingly resembles a dreary string of heartless police states.
All the capital employed in paper speculation is barren and useless, producing, like that on a gaming table, no accession to itself, and is withdrawn from commerce and agriculture where it would have produced addition to the common mass It nourishes in our citizens habits of vice and idleness instead of industry and morality It has furnished effectual means of corrupting such a portion of the legislature as turns the balance between the honest voters whichever way it is directed.
It is not by augmenting the capital of the country, but by rendering a greater part of that capital active and productive than would otherwise be so, that the most judicious operations of banking can increase the industry of the country.
So capital is in fact borderless; that's the problem. On the other hand capital has to keep borders alive in order for this kind of cross-border trade to happen. So therefore the idea of borderlessness has a performative contradiction within it which has to be kept alive.
During the period of capital moving from one employment to another, the profits on that to which capital is flowing will be relatively high, but will continue so no longer than till the requisite capital is obtained.
The mass of the people commence life with no other capital than the union of head, hearts and hands. To the benefit of this best of capital the wife has no right.
Tax laws favor capital over labor, giving capital gains a lower rate than ordinary income. The rich get humongous mortgage interest deductions while renters get no deduction at all.
We have a legal system, and this is not something that happens all the time. We have capital punishment. America has capital punishment. Iran has capital punishment. Iran hangs people and leaves their bodies hanging on cranes. Iran put to death more than a thousand people last year. I don't see EU reporting on it.
The trade deficit is the capital surplus and don't ever think of having a capital surplus as being a bad thing for our country.
Empowering innovations require long-term investments, which tie up capital for years and years. So companies are using capital to create more capital, and consequently, the world is awash in capital, but the innovations we need to advance aren't there.
One of the special characteristics of New York is that it is different from a London or a Paris because it's the financial capital, and the cultural capital, but not the political capital.
Manufacture, don't just trade. There is money in manufacturing even though it is capital intensive. To achieve a big breakthrough, I had to start manufacturing the same product I was trading on; which is commodities.
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