An Introduction to Economics (Classic Reprint)

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Excerpt from An Introduction to Economics This book is designed as an introductory treatise on the science of Economics. In its preparation the author has had constantly in mind the demands of secondary schools for a textbook that lays stress upon the discussion of economic principles with especial reference to American conditions. Two aims have been followed. First, to give a working basis in the knowledge of the methods and terms to be used, and of the content of the subject, such as society as a developed organism, the laws of production, the methods and organization of production and exchange. The growth of productive methods from the time of communal working, through domestic manufacture to the factory system, has been carefully discussed. This discussion shows how manufacturing has developed from small units with hand labor to production on a large scale by machinery, which has resulted in the very large increase in trades and industries. The meaning of the terms production and value, and the laws which govern the production of commodities, have been carefully explained. The second aim has been to present the methods employed in the application of economic principles, with especial reference to exchange. 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.