Note 748 — Chapter II · : THE APOGEE AND DECLINE OF THE CLASSICAL SCHOOL. JOHN STUART MILL

“But a considerable part of the produce of every country is the recompense of no sacrifice whatever; is received by those who neither labour nor put by, but merely hold out their hands to accept the offerings of the rest of the community.” (Political Economy, p. 89.) He takes the income of a successful doctor as an illustration, and divides it up as follows (ibid., p. 189):

Wages or payment for labour £40

Profit or payment for abstinence £960

Rent £3000

See Senior’s Theory of Monopoly, by Richard Ely (American Economic Association, 1899).