INDEX

Activity, desire for, as an economic Benefit principle, in taxation, 698.

motive, 104.
Adams, H. C., on fiscal aspects of the Bills of credit, .colonial and revolution-

Aldrich, N. W., plan for banking reform, Blodgett, J. H., on wages of farm labor,

Consumption, defined, 132; statistics of,
144; harmful, 144.
Consumption goods, 110.

Contract, as an economic institution, 25;
in relation to distribution of wealth,
386.

on economic Contributory negligence, legal doctrine
of, 487.

Clayton Anti-trust Act, 241; in relation Copyrights, 23; as a source of monopoly,

Concentration in industry, 88. See Demand, nature of, 156; demand curve,

Fiat money, 278.

Final consumption, 132.
Finance bills, 350.

Fiscal monopolies, 197, 682.

Fisher, Irving, proposal for a "stabilized
dollar," 342; Statistical verification of
the equation of Exchange, 324 n.

Economic thought, history of, 741; Fisk, G. M., on early restrictions on in-

present condition of, 752.

Effort, necessary to production, 106.

Elasticity of demand, 159.

Employers' associations, 95, 454.

ternational trade, 358.

Fixed and variable expenses, 174; rela-
tion to normal price, 177; in railway
operation, 569.

Employers' liability, law of, 56, 486, 588. Foreign exchange, 345.

Endowments, 584.

Engel, Ernst, laws of expenditure, 145.
Entrepreneur, functions of, 123; as risk

taker, 537.

Entrepreneur's wage, 168, 526.

Equation of exchange, 321.

Forest lands, 674.

Form utility, 116.

Fourteenth Amendment, 184, 573.

Freedom, economic, 26; relation to dis-
tribution, 386; of contract, 472.
Free goods, 105, 401.

Esteem, desire for, as an economic motive, Free silver. See Bimetallism.

104.

Free trade, advantages of, 374.

Ethics and politics, relation to economics, Future products, alleged present con-

15.

Exchange, 19. See Division of labor.
Exchange value. See Value.

Expenses of production, 148; relation to
price, 167, 186.
Express trusts, 228 n.

Fabian socialism, 629.

Factors of production, 119; ultimate,

522.

Factory acts, in United States, 484.
Factory system, in England, 51; in
United States, 82.

Faculty principle, in taxation, 698.
Fair competition, 29.

Farming, intensive and extensive, 600.

sumption of, 142.
Future wants, 140.

General changes in prices, relation to
quantity of money, 319; mechanism
of, 325; effects of industrial uses of
gold upon, 327; effects of expenses of
gold production upon, 328; economic ⚫
effects of, 331; relation to international
gold movements, 351; index numbers

of, 337.

General property tax, 726; defects of,
727; reform of, 729.

General welfare monopolies, 195.
George, Henry. See Single tax.

Gilds, 39.

Godin familistère, 466.
Godwin, William, 748.

Gold, as monetary standard, 255, 269;
relation of industrial uses of, to prices,
327; relation of expenses of production
to prices, 328; increase in production
of, 329; international movement of,
350.

Gold-exchange standard, 269.

Gold points, 348.

India, monetary system of, 270 n.
Indirect taxes, 702, 713.
Individual entrepreneur,
unit, 214.

as business

Individual wealth, contrasted with social
wealth, 109.

Industrial combinations, 230; causes of,
233; legal status, 235; public policy
toward, 243; in other countries, 245.
Industrial democracy, 463.

Goldenweiser, E. A., on farmers' incomes, Industrial insurance, 585.

607.

Goods, defined, 105.

Good-will, in relation to profits, 535.
Government enterprise, extension of in
England in nineteenth century, 58.
Government ownership, of railways, 571;
of other industries, 682.
Government paper money, 271.
Greeks, economic ideas of, 741.
Greenbacks, 273; economic effects of,
275.

Greenback party, 278.
Gresham's law, 261.
Group rates, 570.

Hadley, A. T., on improvident poor re-
lief, 552.

Hamilton, Alexander, Report on the
establishment of a mint, 264 n.
Handicraft stage, 39.
Hedging, 532 n., 624.
Hildebrand, Bruno,

economic stages, 44.
Historical school, 749.
Holding company, 231.

Industrial Revolution, 47; evils of transi-
tional period, 52; in America, 81.
Inelastic currency, 300.

Inelastic reserves, 301.

Inheritance, 24; effect on distribution,
386; taxation of, 723.

Instincts and habits, in economic activity,
105.

Insurance, nature of, 577; development

of, 578; forms of organization, 580.
See Life insurance, Social insurance.
Integration of industry, 88.
Interest, formerly condemned, 493, 743;
inadequate explanations of, 494; how
possible, 495; why necessary, 496;
normal interest, 511; rate, determined
by supply and demand of investment
funds, 521; on farm mortgage loans,
610. See Discount.

Internal improvements, state activity in,
93, 217.

classification of Internal revenues, 717.

Hours of labor, statistics of, 548.
Hume, David, on Elizabethan monop-
olies, 206.

Hunter, Robert, on distinction between
poverty and pauperism, 553.

Immigration, to United States, 68;
changing character of, 70; restriction
of, 72.

Imputed interest, 495.
Inclosures, 41, 50.

Incomes, estimates of distribution of in

United States, 544; in Prussia, 546.
Income taxes, 720.

International gold movements, 302, 311,
348, 350. See Balance of trade.
International trade, restrictions of, in
former times, 358; modern restrictions,
360; advantages of, 361.
Interstate Commerce Act, 573.
Interstate Commerce Commission, 574.
Inventions, eighteenth century, 49.
Investment, in capital goods, 499, 513;
shifting of, 502; affected by durability
of capital goods, 502; competitive,
513; cumulative nature of, 518.
Investment funds, sources of, 523.

Jaurès, Jean, on policies of socialism, 630.
Jenks, J. W., investigation of monopoly
prices, 206.

Increasing expenses, relation to normal Jevons, W. S., on necessary subdivision

price, 170.

Indentured servants, in United States, 66.
Independent treasury system, 297, 353.
Index numbers, 337.

of economic science, 753-

Joint expenses, relation to normal price,

179.

Joint-stock companies, 216 n.

Kartells, 246.
Kelley, Florence, on child labor laws,
478; on minimum wage laws, 480.
Kemmerer, E. W., statistical verification

of the equation of exchange, 324 n.
King, W. I., estimates of distribution of
incomes in the United States, 545,
645 n.

Knights of Labor, 94, 444.

Kropotkin, P., on anarchism, 639.

Labor, as a factor in production, 120.
See Wages.

Marginal productivity, 390; of labor
390; of capital and land, 392; general
principles of, 396; relation to prices of
production goods, 398; lack of ethical
significance, 403; relation to profits,
532. See Diminishing productivity.
Marginal utility, defined, 135; illus-
trated, 136.

Markets, defined, 154; expansion of, 52.
Marketing of farm products, 618.

Marx, Karl, labor theory of value, 186;
other doctrines, 629.
Marxian socialism, 629.

value, 252.

Mercantile system, 42, 359, 744; in
America, 79.

Labor legislation, 471; general principles Medium of exchange and measure of
of, 488; in England, 56.
Labor organizations, development of, in
United States, 93; in England, 57;
types of, 444; economic justification, |
445; as monopolies, 446; methods and
policies, 447; educational and fraternal
activities, 451; relation to industrial
democracy, 468; legal status of, 58,

237, 472.

Mill, J. S., on equilibrium of supply and
demand, 165.

Minimum wage laws, 459, 480.
Mint ratio, 260.

Mitchell, W. C., statistics of prices and
wages in the greenback period, 277.

Labor-saving machinery, effect on wages, Monetary standard, 255. See Bimetal-

Malthus, T. R., 746; law of population, Mun, Thomas, 744.

434, 746.

Manor, English, 37.

Munn vs. Illinois, 573.

Manufactures, growth of, in the United National banking system, 291; reserves,

States, 86.

Margin of consumption, 141.

Margin of cultivation. See Rent.

292, 308; notes, 292, 300, 309; defects
of, 295; steps toward reform of, 304.
See Federal reserve system.