English

Political Economy

CONTENTS. PROLOGUE. Pp. 1—25. § 1. Meaning of Political Economy. 2. The Word Economic. 3. Economic Laws — Normal. 4. Meaning of Economic Goods: Distinction of Positive from Negative Goods. 5. Distinction of Personal Goods from Material Goods or Wealth. 6. Meaning of Property. 7. Distinction of Objects of Enjoyment from Means of Production. 8. Meaning of Value, o. Distinction of Individual from Social Value. 10. Meaning of Exchange. 11. Meaning of Price. 12. Difficulties surrounding the Definition of Value: Adam Smith and the Modern Austrian School. 13. Meanings of Cost and of Labour. 14. Industrial and Non-Industrial Labour. 15. Meaning of Income or Revenue. 16. Complications. 17. Meaning and Varieties of Capital. 18. Meaning of Expenditure. 19. Cautions on the Use of Economic Terms : Professor Marshall on Continuity. 20. Note ori the Distinction of Industrial and Non-Industrial. 21. Over-Reaction against Adam Smith. BOOK I. Production and Consumption. CHAPTER I. Productive Capacities of the Earth . . . Pp. 26—38 § 1. The Two Primary Factors of Production. 2. Points of Physical Geography Important for the Economist. 3. Conclusion from Physical Geography. 4. Limitation of the Earth'

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