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abstinence actual advantage amount applied bargaining Bohm-Bawerk buyers and sellers capi capital and labour commodities competition consumer consumer's rent consumption cost differential gains differential rents distribution duction economic economic rent economists effect element enter into price equal existence expenses of production fact factors of production final utility fixed forced gain forms of capital ginal given higher income increased industry investment labour-power land-use last dose Law of Rent limit margin of cultivation margin of employment marginal cost marginal rent marginal utility market-price measured monopoly monopoly rents nature necessary nomic objective objective productivity owners paid payment portion of supply productive power Professor Marshall profit purchase quantity quasi-rents rate of interest regarded rent of land saving scarcity rent sell subsistence supply and demand surplus surplus value taxation theory of value tion trade wages wheat land worst land yield
Page 363 - 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 364 - THE MONETARY HISTORY OF THE UNITED STATES. By CHARLES J. BULLOCK, Ph.D., Assistant Professor of Economics, Williams College. SOCIAL CONTROL : A Survey of the Foundations of Order. By EDWARD ALSWORTH Ross, Ph.D. COLONIAL GOVERNMENT. By PAUL S. REINSCH, Ph.D., LL.B., author of " World Politics," etc. DEMOCRACY AND SOCIAL ETHICS. By JANE ADDAMS, head of " Hull House,
Page 1 - ... that end a disturbance of the fundamental assumptions on which economic reasoning is based — more especially those of the right of private property and the freedom...
Page 92 - Given, a certain population, with various needs and powers of production, in possession of certain lands and other sources of material: required, the mode of employing their labour which will maximize the utility of the produce.
Page 165 - What we find, in effect, is, not a whole population competing indiscriminately for all occupations, but a series of industrial layers, superposed on one another, within each of which the various candidates for employment possess a real and effective power of selection, while those occupying the several strata are, for all purposes of effective competition, practically isolated from each other.
Page 131 - But when applied to the case of one kind of agricultural produce considered separately, the doctrine is not true as it stands. In order to make it true we must add conditions, the effect of which is almost to explain it away. . . . For the expenses of production of those oats which only just pay their way, are greater than they would be, were it not that much of the land which would return the largest crops of oats to the smallest outlay is diverted to growing other crops that will enable it to pay...
Page 70 - We might as reasonably dispute whether it is the upper or the under blade of a pair of scissors that cuts a piece of paper, as whether value is governed by utility or cost of production. It is true that when one blade is held still, and the cutting is effected by moving the other, we may say with careless brevity that the cutting is done by the second; but the statement is not strictly accurate, and is to be excused only so long as it claims to be merely a popular and not a strictly scientific account...
Page 363 - Professor SIMON N. PATTEN, in Science. The Elements of Sociology A TEXT-BOOK FOR COLLEGES AND SCHOOLS By FRANKLIN HENRY GIDDINGS, MA Professor of Sociology in Columbia Univtrsity Cloth 8vo $1.10 net " It is thoroughly intelligent, independent, suggestive, and manifests an unaffected enthusiasm for social progress, and on the whole a just and sober apprehension of the conditions and essential features of such progress.
Page 363 - The question which most interests both Professor Giddings and his readers is the application of his facts, his sociology, and his prophecy, to the future of the American Empire. . . . The reader will rise from it with a broader charity and with a more intelligent hope for the welfare of his country.