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activity Adam Smith Anton Menger Aufl Bank of England bankruptcy capital capitalist cause of crises character Commercial Crises connection considered consumption crisis currency demand depression desire discussion distress distribution economic crises effect England equilibrium factors of production famines in India fluctuations forces France Franklin Henry Giddings glut growth important increase individual industry influence interest investment issue J. S. Mill James Sully Jevons John Stuart Mill Juglar Krisen legislation London Lord Overstone machinery Max Wirth means ment mind money market nations nature necessary nomic operation organization over-production panic Peel Bank Act phenomena Political Economy present problem productive power productivity of labor profits relation result Rodbertus Roscher says Schaffle Science social society speculation sun-spots surplus tendency theory of crises tion United Volkswirthschaft wage-earning classes wages Wagner wealth writers
Page 216 - A native of the United States clings to this world's goods as if he were certain never to die ; and he is so hasty in grasping at all within his reach, that one would suppose he was constantly afraid of not living long enough to enjoy them. He clutches everything, he holds nothing fast, but soon loosens his grasp to pursue fresh gratifications.
Page 214 - The more they are instructed, the less liable they are to the delusions of enthusiasm and superstition, which, among ignorant nations, frequently occasion the most dreadful disorders.
Page 200 - Egypt you might as well dispute the efficacy of grass or grain as of magic. There is no controversy about the matter. The effect of this, the unanimous belief of an ignorant people upon the mind of a stranger, is extremely curious, and well worth noticing. A man coming freshly from Europe is at first proof against the nonsense with which he is assailed, but often it happens that after a little while the social atmosphere...
Page 142 - ANY sudden event which creates a great demand for actual cash may cause, and will tend to cause, a panic in a country where cash is much economized, and where debts payable on demand are large. In such a country an immense credit rests on a small cash reserve : and an unexpected and large diminution of that reserve may easily break up and shatter very much if not the whole of that credit. Such accidental events are of the most various...
Page 254 - I like best of all the discussion of tradition and of social choices ; on these topics he shows the greatest originality. I have not the space to take up these or other doctrines in detail, nor would such work be of much value. A useful book must be read to be understood.
Page 3 - Commerce is at a standstill, the markets are glutted, products accumulate, as multitudinous as they are unsaleable, hard cash disappears, credit vanishes, factories are closed, the mass of the workers are in want of the means of subsistence, because they have produced too much of the means of subsistence; bankruptcy follows upon bankruptcy, execution upon execution.
Page 3 - ... of the means of subsistence; bankruptcy follows upon bankruptcy, execution upon execution. The stagnation lasts for years; productive forces and products are wasted and destroyed wholesale, until the accumulated mass of commodities finally filter off, more or less depreciated in value, until production and exchange gradually begin to move again.
Page 253 - By RICHARD T. ELY, Ph.D., LLD, author of " Monopolies and Trusts," etc. THE ECONOMICS OF DISTRIBUTION. By JOHN A. HOBSON, author of " The Evolution of Modern Capitalism," etc. WORLD POLITICS. By PAUL S. REINSCH, Ph.D., LL.B., Assistant Professor of Political Science, University of Wisconsin. ECONOMIC CRISES. By EDWARD D. JONES, Ph.D., Instructor in Economics and Statistics, University of Wisconsin.
Page 254 - The chapters on Social Population and on Social Constitution are among the best in the book. It is here that the method of Professor Giddings shows itself to the best advantage. The problems of anthropology and ethnology are also fully and ably handled. Of the other parts I like best of all the discussion of tradition and as social choices; on these topics he shows the greatest originality.