CHAPTER VI

MCCULLOCH, JAMES MILL AND TORRENS. ANTICIPATION OF MARX’S THIRD VOLUME

§ 1. The interest which attaches to these three minor writers 61

§ 2. Samples of McCulloch’s extravagant dogmatism 62

§ 3. McCulloch anticipates Marx’s solution of the “organic composition of capital” complication 64

§ 4. James Mill’s complete misapprehension of the nature of the interest difficulty 70

§ 5. False move made by Torrens in defining the concept of entrepreneur’s cost 74

§ 6. Shallow attempt of Torrens to avoid the interest difficulty by a theory of “accumulated labour” 76