Chapter CCLXII

When we find set forth as an "absolute" truth the statement that the essential factors in economic production are land, capital and labour--when this is offered as an axiom whence all sorts of other important truths may be deduced--it is needful to remember that the assertion is true only with a qualification. Undoubtedly "vital capital" is essential; for, as we have seen, no human work can be done unless it exists, not even that internal work of the body which is necessary to passive life. But, with respect to labour (that is, human labour) I hope to have left no doubt on the reader's mind that, m regard to production, the importance of human labour may be so small as to be almost a vanishing quantity.