Book Description

Excerpt from Modern Economic Problems The outlook and sympathies that are expressed or tacitly assumed throughout this work are not so much those personal to the author as they are those of our present day American democratic society, taken at about its center of gravity. When the people generally feel difierently as to the ends to be at tained, a different public policy must be formulated, tho the economic analysis may not need to be changed. Therefore, in some cases, the author has discussed merely the economic as pect, or has referred to the general principles treated in vol ume one, and has purposely refrained from expressing his personal judgment as to the best policy for the moment. The present volume was planned some years ago as a re vision of a part of the author's earlier text, The Principles of Economics The intervening years have, however, been so replete with notable economic and social legislation and have witnessed the growth of a wider public interest in so many economic subjects, that both in range and in treatment this work necessarily grew to be more than a revision. Except in a few chapters, occasional sentences and paragraphs are all of the specific features of the older text that remain. Sug gestive of the rapid changes occurring in the economic field is the fact that a number of statements made in the manuscript a few months or a few weeks ago had to be amended in the proof sheets to accord with recent events. The author's debt for information, inspiration, and assist ance in various phases of the work is a large one. The debt is owing to many, - authors, colleagues, and students. A few of the sources that have been drawn upon will be indicated in a pamphlet following the plan of the Manual of References and Exercises in Economics, already published for use in connection with Volume I; but the limits of space will prevent a complete enumeration. I wish, however, in particular, to acknowledge gratefully the aid and friendly criticisms given in connection with the chapters on money and banking, onlabor problems, and on the principles of insurance, respec tively, by my colleagues, E. W. Kemmerer, D. A. Mccabe, and N Carothers. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.