The Principles of Economics, with Applications to Practical Problems

Chapter 337: FOOTNOTES:

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About This Book

The text presents a systematic introduction to political economy, defining its purpose and situating it among the social sciences. It analyzes human wants and motives, distinguishing material desires from secondary moral and social influences, and derives demand and market exchange from subjective comparisons. Subsequent sections treat wealth, rent, and production, explaining rent contracts, diminishing returns, depreciation, and efforts to increase productive agents. The closing divisions examine money, the rise of a monetary economy, concepts of capital and capitalization of future returns, and the nature of interest and time-value in evaluating assets.

FOOTNOTES:

[1] Compiled from data given by "The Journal of Commerce and Commercial Bulletin," reprinted in "The Commercial Year Book," Vol. V, 1900, pp. 564-569.

[2] John Moody, "The Truth About the Trusts," 1904.

[3] These statements are retained as they were made in March, 1903. In the following September occurred a very remarkable panic in stocks which had the minimum of effect on general business. While stock prices have somewhat recovered since that time, general business conditions, on the whole, tended for a while toward the worse until the spring of 1904.

[4] Though at first glance this may seem contradictory to the statement in the foregoing paragraph regarding the nature of supply, it will not be found so on closer examination.