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All Economic Theory Page 2
Protection And Monopoly
The more serious perversions of the economic system which we have encountered have all been traceable to some working of the principle of monopoly, and it is important to know whether any established policy of governments lends force to this evil ...
Rent
The Term "Rent" as Historically Used The word rent has a striking history. The science of political economy first took shape in a country in which direct employers of labor were not, as a rule, the owners of much land. Farmers, merchants, and m...
Summary Of Conclusions
Perpetual change is the conspicuous fact of modern life. So revolutionary are the alterations which a few decades make in the industrial world as to raise the question whether there are economic laws which retain their validity for any length of t...
The Basis Of Wages As Fixed By Arbitration
The state needs an authoritative mode of determining what rate of pay is "reasonable." This duty is often imposed on boards of arbitration, for whose guidance no definite principle of justice has as yet been prescribed. Such a board has to depend ...
The Foregoing Principles Applied To The Railroad Problem
Simple Cases of Charging "What the Traffic will Bear."--The value of a study of primitive carriers and their policy lies in the fact that it illustrates principles which apply to transportation by a complicated system of railroads, although in thi...
The Law Of Accumulation Of Capital
Adam Smith and many others have noticed that the growth of capital varies with the intelligence and the foresight of a population. It should therefore increase in rapidity as intelligence increases. A high valuation of the future is a mark of inte...
The Law Of Interest
The product of the final unit of labor--an amount which in practice is measured without any tracing of the previous growth of the working force--sets the standard of the rate of wages. We have now to see that the rate of interest has a similar bas...
The Law Of Population
Since the optimistic conclusion reached in the preceding chapter is contingent on an increase of wealth which is not neutralized by an increase of population, it remains to be seen whether the population tends to grow at a rate that gives reason t...
The Limits Of An Economic Society
When we try to establish a standard to which wages generally tend to conform, the question arises how much of the earth we have in view. Is there a rate at which the pay of labor in Europe, Asia, Africa, Australia, and America tends to settle and ...
The Measure Of Consumers' Wealth
In all stages of social development the economic motives that actuate men remain essentially the same. All men seek to get as much net service from material wealth as they can. The more wealth they have, other things remaining the same, the better...
The Socialization Of Industry
We have now before us a few principles of so general a kind that they apply to the economy of the most primitive state as well as to that of the most advanced. It is not necessary that men should live in any particular relation to each other, in o...
Value And Its Relation To Different Incomes
Functional distribution controls personal incomes since each man who gets, in a normal way, any income at all performs one or more productive functions, and his total income is the sum of the returns for these several functions. Moreover under suc...
Varieties Of Economic Goods
Passive Capital Goods Labor spends itself on materials, and these, in their rawest state, are furnished by nature herself. They "ripen" as the work goes on. Every touch that is put on them imparts to them more of the utility which is the essenc...
Wages
The Equilibrium of Industrial Groups The different industrial groups are in equilibrium when they attract labor and capital equally, and that occurs when these agents produce as much per unit employed in one group as in another. Such equalized ...
Wealth And Its Origin
The creation and the use of wealth are everywhere governed by natural laws, and these, as discovered and stated, constitute the science of Economics. Some of them come into operation only when men live in more or less civilized societies and work ...
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Rent
The Law Of Population
Wages
The Limits Of An Economic Society
Perpetual Change Of The Social Structure
Value And Its Relation To Different Incomes
The Law Of Accumulation Of Capital
Effects Of Dynamic Influences Within The Limited Economic Society
Least Viewed
Production A Synthesis Distribution An Analysis
Leading Facts Concerning Money
The Foregoing Principles Applied To The Railroad Problem
The Measure Of Consumers' Wealth
Capital As Affected By Changes Of Method
Conditions Insuring Progress In Method And Organization
Land And Artificial Instruments
Further Influences Which Reduce The Hardships Entailed By Dynamic Changes