As to your theory of deferred consumption, capital pays out the...

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    As to your theory of deferred consumption, capital pays out the minimum in wages for the maintenance and reproduction of the worker at a given level of civilisation, as Marx put it. So if there is anything left over from wages to defer across the entire working class, then wages fall in line to offset any deferral of consumption of the wages paid, which might have occurred.

    The same applies to the class of landlords. Whatever is paid out to workers as a class, if there is any deferral of consumption over and above what is required for the maintenance and reproduction of the worker, then this amount is immediately claimed by landlords in increased rents and land values, to offset any deferral of consumption from wages which workers might have made.
 
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