﻿20 
  Transactions. 
  — 
  Miscellaneous, 
  

  

  use, 
  until 
  a 
  year 
  after 
  B 
  had 
  done 
  so, 
  lie 
  would 
  have 
  invested 
  it, 
  and 
  the 
  

   working 
  classes 
  would 
  have 
  enjoyed 
  the 
  use 
  of 
  it 
  once 
  more, 
  receiving 
  

   thereby 
  a 
  further 
  benefit. 
  He 
  would 
  then 
  enjoy 
  the 
  services 
  of 
  his 
  

   attendants 
  at 
  the 
  same 
  time 
  that 
  B 
  was 
  wearing 
  his 
  velvet, 
  and 
  not, 
  as 
  

   before, 
  at 
  the 
  time 
  B 
  was 
  mamifacturing 
  it. 
  Mill's 
  error 
  consists 
  in 
  

   thinking 
  that, 
  in 
  this 
  latter 
  case, 
  the 
  actions 
  of 
  A 
  and 
  B 
  are 
  parallel, 
  

   and 
  that 
  both 
  were 
  using 
  contemporaneously 
  their 
  right 
  to 
  the 
  product 
  

   of 
  the 
  labour 
  of 
  others. 
  A 
  definition 
  of 
  the 
  word 
  "invest" 
  would 
  have 
  

   prevented 
  this 
  mistake. 
  

  

  The 
  capitalists, 
  as 
  a 
  class, 
  have 
  absolute 
  power 
  oyer 
  future 
  production; 
  

   whatever 
  they 
  wish 
  to 
  be 
  produced 
  will 
  be 
  produced 
  ; 
  but 
  they 
  have 
  no 
  

   power 
  over 
  the 
  past 
  ; 
  the 
  stock 
  of 
  wealth 
  in 
  existence 
  is 
  the 
  result 
  of 
  their 
  

   past 
  wishes 
  and 
  actions, 
  and 
  cannot 
  be 
  altered. 
  If 
  any 
  capitalist 
  resolves 
  

   to 
  "invest 
  his 
  wealth," 
  he 
  means 
  to 
  give 
  it 
  to 
  the 
  working 
  classes, 
  and 
  to 
  

   continue 
  to 
  give 
  them 
  the 
  result 
  of 
  their 
  labour, 
  keeping 
  for 
  himself 
  only 
  a 
  

   part, 
  which 
  he 
  calls 
  his 
  interest. 
  He 
  will 
  so 
  dispose 
  the 
  labour 
  over 
  which 
  

   he 
  has 
  control, 
  that 
  it 
  shall 
  produce 
  for 
  himself 
  the 
  particular 
  commodities 
  

   which 
  he 
  wishes 
  to 
  use, 
  and 
  for 
  his 
  labourers 
  the 
  particular 
  commodities 
  

   which 
  they 
  will 
  requu-e. 
  It 
  may 
  be 
  more 
  convenient 
  that 
  he 
  shall 
  arrange 
  

   to 
  produce 
  for 
  some 
  other 
  capitalist 
  a 
  different 
  commodity, 
  while 
  the 
  other 
  

   capitalist 
  produces 
  what 
  he 
  requires, 
  and 
  that 
  they 
  shall 
  exchange 
  their 
  

   respective 
  productions. 
  This 
  would 
  have 
  no 
  influence 
  on 
  the 
  total 
  wealth 
  

   produced, 
  which 
  will 
  be 
  the 
  sum 
  of 
  all 
  the 
  different 
  kinds 
  of 
  wealth 
  which 
  

   all 
  the 
  capitalists 
  require. 
  Of 
  course, 
  in 
  a 
  large 
  community 
  there 
  is 
  no 
  

   previous 
  bargain 
  made 
  as 
  to 
  what 
  each 
  capitalist 
  shall 
  produce. 
  They 
  all 
  

   anxiously 
  forecast 
  what 
  their 
  fellows 
  will 
  require, 
  and 
  direct 
  the 
  labour 
  

   under 
  their 
  command 
  accordingly 
  ; 
  the 
  result 
  is, 
  that 
  taking 
  one 
  year 
  with 
  

   another, 
  everyone 
  gets 
  exactly 
  what 
  he 
  wishes. 
  If 
  any 
  particular 
  capitalist, 
  

   after 
  he 
  has 
  influenced 
  the 
  disposition 
  of 
  the 
  year's 
  labour 
  of 
  the 
  com- 
  

   munity, 
  changes 
  his 
  mind, 
  and 
  wishes 
  to 
  consume, 
  himself, 
  the 
  share 
  of 
  

   wealth 
  which 
  he 
  had 
  previously 
  determined 
  to 
  give 
  to 
  his 
  labourers, 
  he 
  will 
  

   be 
  unable 
  to 
  do 
  so. 
  He 
  may, 
  by 
  outbidding 
  a 
  fellow-capitalist, 
  procure 
  for 
  

   himself 
  what 
  had 
  been 
  manufactured 
  for 
  his 
  colleague, 
  who 
  will 
  thus 
  be 
  

   deprived 
  of 
  it, 
  but 
  the 
  labourers 
  will 
  be 
  uninfluenced. 
  The 
  capitalist 
  who 
  

   was 
  outbid 
  wiU 
  have 
  on 
  his 
  hands, 
  instead 
  of 
  the 
  particular 
  commodity 
  

   which 
  had 
  been 
  produced 
  to 
  gratify 
  his 
  wishes, 
  a 
  stock 
  of 
  goods 
  suitable 
  for 
  

   the 
  labourers, 
  which 
  he 
  can 
  only 
  turn 
  to 
  account 
  by 
  giving 
  it 
  to 
  them 
  in 
  

   exchange 
  for 
  the 
  product 
  of 
  their 
  future 
  labour. 
  If 
  the 
  first 
  capitalist 
  is 
  not 
  

   prepared 
  to 
  outbid 
  his 
  fellow, 
  he 
  must 
  wait 
  for 
  a 
  year 
  before 
  his 
  new 
  wish 
  

   can 
  be 
  gratified, 
  and 
  in 
  the 
  mean 
  time 
  his 
  labourers 
  will 
  get 
  the 
  benefit 
  of 
  

  

  