Peter Cooper — Effect on the Mind of the Words "Spending" and "Investing"

The example of the effect on the human mind of the words "spending" and "investing" is reminiscent of an interesting passage in volume 2 of Capital (ch.19, section II.4):

The labourer sells his commodity -- labor-power -- to the capitalist; the money with which the capitalist buys it is from his point of view money invested for the production of surplus-value, hence money-capital; it is not spent but advanced. (This is the real meaning of "advance" -- theavance of the physiocrats -- no matter where the capitalist gets the money. Every value which the capitalist pays out for the purposes of the productive process is advanced from his point of view, regardless of whether this takes place before or post festum; it is advanced to the process of production itself.) The same takes place here as in every other sale of commodities: The seller gives away a use-value (in this case his labour-power) and receives its value (realises its price) in money; the buyer gives away his money and receives in return the commodity itself -- in this case labour-power.

heteconomist.com
Effect on the Mind of the Words "Spending" and "Investing"
Peter Cooper