Principles of Economics: With Special Reference to American Conditions

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Longmans, Green, and Company, 1905 - Economics - 613 pages
 

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Contents

Scope of Economics
34
Part II
36
The Flora the Fauna and the Geographical Location
40
Changes in Environment
42
Changes in Location
45
The Population 20 References
48
Concentration of Population
51
Distribution of Population
53
Increase of Population
55
Migration of Population
59
The Law of Population
60
DEVELOPMENT OF ECONOMIC LIFE AND THOUGHT V The Economic Stages 27 References
66
Primitive Technique
68
Transition from the Lower Stages of Civilization
71
Selfsufficing or Isolated Economy
74
Trade or Commercial Economy
76
Capitalist or Industrial Economy
80
Chi ptes Page VI The Historical Forms of Business Enterprise 34 References
84
The Family
86
Help or Hire System
89
Handicraft System
90
Domestic System
92
Factory System
93
Associated and Corporate Enterprise
95
Economic Development of the United States 42 References
99
Growth of American Industry in the Nineteenth Century
101
Recent Development of American Industry
104
Modern Problems of America
106
Development of Economic Thought 47 References
109
Mediaeval Economic Theory
112
The Mercantile Doctrine
115
Adam Smith and the Physiocrats
118
Ricardo and Modern Economics
121
CONDITIONS OF ECONOMIC LIFE IX Private Property 53 References
125
Growth of Property in Land
128
Theories of Private Property
131
Limits of Private Property
134
Content of Property Rights
136
Competition 591 References
139
Forms of Competition
141
Dangers of Competition
145
Limits of Competition
147
Substitutes for Competition
150
Chapter Pagh XI Freedom 65 References
154
Decay and Disappearance of Slavery
158
Liberty of Economic Action
163
Various Kinds of Economic Freedom
165
Individual Liberty as a Social Concept
170
Part III
173
Marginal Utility Law of Diminishing Utility
175
Individual and Social Value
179
Value in Exchange
182
Value and Price
184
Value and Marginal Increments of Wealth
185
The Measure of Value 78 References
189
Individual and Social Cost
192
Cost and Surplus
194
Cost and Utility
198
Social Surplus and Progress
201
The Capitalization of Value 84 References
204
Law of Depreciation
206
Law of Future Estimates
209
Law of Diminishing Returns
211
Forms of Value
215
Value as a Differential
217
Relation of Rental and Capital Values
219
Chapter Pagb XV Determination of Market Value 92 References
222
Market and Normal Price
223
Conditions of Exchange Law of Comparative Utilities and Comparative Costs
225
Rate of Exchange Barter
226
One Seller and One Buyer
228
Monopoly
230
Competition
233
Conclusions
234
Dktermination of Normal Value lot References
239
Normal Supply Cost of Production
242
Law of Marginal or Maximum Cost
245
Law of Minimum Cost
247
Elasticity of Supply Law of Varying Cost
249
Law of Joint Cost
251
Equilibrium of Normal Demand and Normal Supply
253
InBuence of Normal Price upon Market Price
254
no Normal Monopoly Value
255
The General Law of Value in References
260
Value and Efficiency
262
Efficiency and Capitalization
266
Valuation and Taxation
267
Valuation and Regulation
271
Valuation and Investment
273
Character and Factors of Production 118 References
275
Combination of Labor
296
Supply of Labor
298
Land 131 References
300
Fertility of Land
303
Situation of Laud
306
Cultivation of Land
309
Capital
311
References
313
Function of Capital
316
Creation and Growth of Capital
319
Nature and Influence of Capital
321
Investment of Capital
324
Enterprise The Concentration of Production 142 References
329
Large Scale Production
331
Large Scale Agriculture
334
Consolidation and Integration of Production
337
Growth of Combination
340
Effects of Combination
344
Limits of Combination
347
VALUE AND DISTRIBUTION XXIII Profits 150 References
351
Ordinary Profits
353
Aleatory Profits
357
Nature
359
Function
363
Monopoly Profits
366
Regulation and Justification of Profits
368
Rent 158 References
371
Relation of Land Rent to Other Rents
373
Rent and Price
376
Growth of Land Rent
379
jnd Rent and I and Tenure
383
Justification of Land Rent
388
Interest 165 References
392
Interest and Forbearance
396
Interest and Productivity
399
Course of Interest
403
Tendency of Interest to a Minimum
405
Regulation of Interest
408
Wages 172 References
411
Wages and Cost
414
Wages and Efficiency
416
Rate of Wages
419
Course of Wages
420
Variations in Wages
422
Wages and Profits
427
References
429
Labor Legislation
430
Object and Functions
434
Methods
439
Profit Sharing and Cooperation
442
Arbitration and Conciliation
445
VALUE AND EXCHANGE Chapter Pack XXVIII Money 186 References
448
Functions of Money
449
Kinds of Money
451
The Quantity Theory
454
Cost of Production
457
Commodities 18901903 faig
459
Stability of Money
460
Distribution of Money
467
Credit
468
References
469
Credit and Banking
472
Credit and Prices
476
Credit and Currency
478
Bank Notes Paper Money etc 18781905 478
478
Credit and Crises
487
International Trade 199 References
491
Merchandise Exported and Imported 494
494
Rate of International Exchange
497
Growth of Free Trade
501
The Argument for Protection
505
The Argument for Free Trade
510
Conclusion
512
Transportation 206 References
517
Railway Development
520
Nature of Railway Business
524
Principle of Railway Charges
528
Classification
532
Personal Discrimination
535
Local Discrimination
536
Railway Regulation
541
Insurance 215 References
545
Growth of Insurance
548
Theory of Insurance
553
Methods and Regulation of Insurance
556
CONCLUSION
559
Poverty and Progress
579
Percent of Total Expenditure etc Normal
584
Poverty Chart reproduced by permission
590
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Page xl - Inquiry into the Conditions relating to the Water Supply of the City of New York (1900).
Page 86 - This totem, as it was called, became sacred and was soon protected by a system of " taboo " or religious prohibition. The origin of the totem worship is still shrouded in mystery, but is probably to be sought in economic reasons, — the totem being at first the chief source of food supply which afterwards became so useful for purposes of barter that its consumption by members of the clan was forbidden. Where conditions were favorable to an increase of population the clans, although always preserving...
Page 272 - And in order to ascertain that value, the original cost of construction, the amount expended in permanent improvement, the amount and market value of its bonds and...
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Page 565 - In the fifth stage the government reduces charges until finally there is no charge at all and the expenses are defrayed by a general tax on the community. This is the stage now reached in the common roads and most of the canals and bridges, and which has been proposed by officials of several American cities for other services, like the. water supply.
Page 416 - ... it is for them to take the consequences. If we stand between the error and its consequences, we stand between the evil and its cure ; if we intercept the penalty, we perpetuate the sin.
Page 271 - Kragh [39] and Mr. Ralph Turvey [40], to mention them in alphabetical order, have pointed out that " the amount of money which people desire to hold as a store of wealth depends not only on the rate of interest but also on the total amount of wealth available." Thus in order to describe the effect of an increase in the existing quantity of money, two kinds of " reaction curves " are needed, one showing the reaction of the rate of interest to increases in the money stock effected by open-market operations...
Page 336 - ... David, the well-known socialist leader, who is unquestionably the most learned socialist authority on all agricultural questions, has come to the conclusion that the peasants are getting the better of the large landowners 4 and that their standard 1 " Land values tend to rise with growing prosperity. A given capital thus represents a constantly diminishing acreage, and it becomes increasingly profitable to apply more labor and minor machines to small areas rather than large capital and vast machines...
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