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History and criticism of the labor theory of value in English political economy

Note 140 — Chapter VIII · SENIOR

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P. 58. Scrope, an English writer, 1833, said: “Profit is to be viewed in the light of a compensation for abstaining for a time from consumption in personal gratification.” Mentioned by Böhm-Bawerk, Capital and Interest, p. 271. “But,” continues Böhm-Bawerk, “this same idea which his predecessors merely touched on, Senior has made the center of a well-constructed theory of interest.”

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