COLLECTIVELY viewed, all incomes derive directly from labor
or from possessions. Competitively viewed, they are so derived
either directly or indirectly, the primary distributions in the gain
process not always clearly distinguishable from the later distribu-
tions by gift, inheritance, parasitism and crime; as witness printing
of blue-sky securities, counterfeiting, salting of mines, gainful
spread of misinformation, hunting of ivory and catching of slaves.
All industry is business, but not all business is industry.

Marshall's efforts and waitings--occasionally also sacrifices--are
presented as the real costs attaching to the productive uses of labor
and capital, for the control of which the money costs, the expenses,
are incurred--the sums of these money outlays being, for each
different individual producer, the unit supply prices of each of his
different respective volume of output--the sums that some one
else receives from you being the sums that you pay out to him.
Capital in this aspect is merely possessions--legally, property--in-
dustrially employed. Waiting is implicit in the fact that the pos-
sessions are being industrially employed. The correlative hires in
the case are, for labor, wages, and for capital, either interest or rent.

Mainly, in these discussions of costs, Marshall's point of view
is distinctly industrial--the production of price goods. But waiting
refers, nevertheless, either to all investment funds or to the goods
in which they have been incorporated. We recall that land is de-
clared by Marshall to be no longer a free good, and that for all
enterpriser purposes there is no distinction between capital and
land. Rightly, therefore, this fact of waiting must attach to land as
well as to any other auxiliary good--any indirect or production
good. All lessors or lenders wait. Organization and publicity are

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