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Economics for Helen

Chapter 36: Index
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About This Book

A clear, instructional account of fundamental economic concepts, beginning with a precise definition of wealth as exchangeable value distinct from well-being, and explaining land, labour and capital and the process by which production yields goods. It analyzes how produced wealth divides into rent, interest and subsistence, and how exchange, money and trade policies operate. The second part applies these principles to political questions—property and different forms of state organization, banking, national finance, taxation, international exchange, socialism, usury and the social value of money—arguing from practical examples to illuminate policy implications.

Index

  • Banking, how arose, 168–173;
  • its machinery, 173–179.
  • Banking system, its advantage in concentrating capital, 180;
  • begins to invest money, 183–186;
  • great modern power of, 186–188.
  • Blanc, creator of modern socialism, 133;
  • its definition, 134.
  • Capital, Character of, 19–26.
  • “Capitalism,” term for Capitalist Society, 105;
  • “Paradox,” 120, 122.
  • Capitalist State, 101, 104–5;
  • advantages and disadvantage, 115–123.
  • Categories, Purchasable, 209–210.
  • Circulation, Efficiency in, 72–75.
  • Clearing House, 179.
  • Coal, Example of addition of values to, 27–28.
  • Coal Mine, example of how rent arises as a surplus, 47–49.
  • Communism, only logical and necessary form of Socialism, 135.
  • Consumption of Capital inevitable, 23.
  • Consumption of wealth is universal, 31–32.
  • Currency, Debasement of, 79–83.
  • Currency, Meaning of, 70.
  • Denmark, example of distributive state, 108, 126.
  • Diminishing Returns, Law of, 40–44.
  • Distributive State, 105–6;
  • advantages and disadvantages, 124–131.
  • Division of Labour, 54.
  • Douglas Scheme of Credit, 187.
  • Economic Imaginaries, examples of, 231–240.
  • Exchange, a true form of production, 52.
  • Exchange, Free, Formulæ of maximum wealth through, 59–60.
  • Exchange, International, factor of National Currencies in, 142, 143.
  • Exchange, Medium of, or currency, 70.
  • Exchange, Multiple, 57–58.
  • Exchange, Multiple, in International trade, 143–144.
  • Exchange, Potential of, 53–54.
  • Exchange value, necessary condition of wealth, 12–14.
  • Expenditure, Luxurious, productive of Economic Imaginaries, 233.
  • Exports not a test of wealth, 146–149.
  • Formulæ defining production of wealth, 26.
  • Formula, defining wealth, 14.
  • Formula of Consumption, 32.
  • Formula of Maximum Wealth through freedom of exchange, 59.
  • Formula, of Production by Transport and Exchange, 32.
  • Formula of Protection, 64.
  • Formula of Potential of Exchange, 56.
  • Formulæ of Subsistence, Interest and Rent, 50.
  • Free Trade, arguments for, 153–155.
  • Free Trade and Protection, detailed consideration of, 150–166.
  • Free Trade and Protection, Elements of, 61–65.
  • Gold and Silver, Natural advantages of, as money, 69–70.
  • Great War, its effect in destroying value of currency, 79–83.
  • Human energy in production of wealth, conventionally called “Labour,” 18–19.
  • Imaginaries, Economic, examples of, 231–240.
  • Imports test of wealth, not exports, 146–149.
  • Incomes, Inequality of, productive of Economic Imaginaries, 235.
  • Index Number, 204–208.
  • Inequality of Incomes, productive of Economic Imaginaries, 235.
  • Intention, a necessary adjunct to Capital, 22.
  • Interest, high, not connected with though often confused with Usury, 217, 218.
  • Interest, Nature of, 39–45.
  • International Exchange, factor of National Currencies in, 142, 143.
  • International Trade, why vital to England, 148–149.
  • Islands, Three, Example of in proof of Protectionist Theory, 160–165.
  • Labour, Division of, 54.
  • Labour, term for all human energy in production of wealth, 18–19.
  • Labour “worth while of” or Standard of Subsistence, 30–38.
  • Land, conventional term for all natural forces used in production of wealth, 17–18.
  • Land, Labour, Capital, Conventional terms for three factors of wealth, 16.
  • Law of Diminishing Returns, 40–44.
  • Loan, Unproductive, the test of Usury, 218–221.
  • Luxurious Expenditure, productive of Economic Imaginaries, 233.
  • “Marx,” assumed name of Mordecai, 134.
  • Material objects, not wealth, 11–12.
  • Means of Production, 99–100.
  • Medium of Exchange, or currency, meaning of, 70.
  • Money, how it arises, 66–69;
  • Qualities of, 68–69.
  • Money, Paper, its function, 75–78;
  • its corruption, 78–83.
  • Money, Social value of, three factors in, 202–203.
  • Mordecai, or “Marx,” principal propagator of Socialism, 134.
  • Multiple Exchange, 57–58.
  • Multiple Exchange in International trade, 143–144.
  • Natural forces used in production of wealth, called “Land,” 17–18.
  • National loans and debt, how arise, 189–191;
  • method of shirking interest on, 192–193.
  • Overlap, example of an Economic Imaginaries, 231–232.
  • Potential of Exchange, 53–54;
  • formulæ of, 56.
  • Prices, Names for exchange value in gold, 71–72.
  • Production, Means of, definition, 99–100.
  • Production of wealth, three necessary factors in, Land, Labour and Capital, 15–26.
  • Production, Process of, 27–32.
  • Property, Nature of, 95–97;
  • private, 96.
  • Protection and Free Trade, detailed consideration of, 150–166;
  • arguments advanced for, 152, 156–157;
  • example of the Three Islands, 160–165;
  • of Pig Meal in England, 165–166.
  • Protection and Free Trade, Elements of, 61–65.
  • Protection, Economic, Formula of, 64.
  • Rent, a surplus, 47.
  • Rent, Example of Coal Mine, 48.
  • Rent, Interest, Subsistence, the three divisions of wealth produced, 33–51.
  • Rent, Nature of, 46–51.
  • Saving, a necessary process in formation of Capital, 24–25.
  • Services and Wealth, confusion between productive of Economic Imaginaries, 236–238.
  • Servile State, 100, 103;
  • advantages and disadvantages, 109–114.
  • Silver and Gold, Natural advantages of, as money, 69–70.
  • Single Tax, theory of, 198–200.
  • Socialism, its creator in modern terms. Blanc, 133;
  • its definition, 134.
  • Socialism, only conceivable as Communism, 135;
  • failure of, 135–140.
  • Standard of subsistence, 36–38.
  • State, Capitalist, 101, 104–5;
  • advantages and disadvantages, 115–123.
  • State, Distributive, 105–106;
  • advantages and disadvantages, 124–131.
  • State, Servile, 100, 103;
  • advantages and disadvantages, 109, 114.
  • Subsistence, Nature of, 35–39.
  • Subsistence, Standard of, 36–38.
  • Taxation, direct and indirect, 193–194;
  • rules of, 194–197.
  • Taxes, law in distributive state, 129.
  • Tribute paid to wealthy countries by poor ones, 145–146.
  • Unproductive Loan, the test of Usury, 218–221.
  • Usury, definition of, 221;
  • why neglected, 223–227.
  • Values, Economic, attached to material objects, 12.
  • Wealth, Definition of, 10–14.
  • Wealth, production of, three necessary factors in, Land, Labour and Capital, 15–26.