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according to Hearn Adam Smith application Australia Australian economic Australian economists Australian environment Bank Bill capital cause classical colony Committee commodities consumption cost of production Council deal depression diminishing returns diminishing utility discussion economic control economic doctrines economic geography economic progress Economic Record economic thought effect elasticity of demand evolution export expounded extent favour fertile free competition free trade geography of Australia gold HEARN'S CONTRIBUTION Hearn's view human wants immigration important increase influence interest internal investment Jevons law of diminishing lecture Legislative Little Bourke St loan expenditure marginal cost Marshall means Melbourne University Press ment modern national income natural agents nomic Parliament Parliamentary Debates Physiocratic Plutology Political Economy population principle problem Professor protected industries Queen's College railways recent referred rent saving secondary industries settlement social society standard of living Tariff taxation tion to-day treatment University of Melbourne Victoria wages wealth writing