An analytical treatise sets out practical rules for defining and applying terms in political economy, then surveys and critiques how leading economists have used key concepts. It examines competing definitions of wealth, capital, productive labour, value, utility, wages, profits, and demand, tracing ambiguities that produce disputes. The author analyzes the arguments of prominent writers, evaluates proposed measures of value — including metallic standards — and proposes a clarified terminology and measure to reduce confusion. The work concludes with a concise glossary of recommended definitions and remarks on their application.