Constructive Economics

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Excerpt from Constructive Economics: Second Supplement to Book Solution The industrial achievements of the last 100 years were attained by means of new knowledge presented by inventors. In the proportion and to the extent that inventions of merit received proper recognition, to that same extent was society benefited. This was merely a demonstration of a natural law that something of superior merit always dis placed others of inferior merit. It was in short the law of the Survival of the Fittest by natural selection during the Strug gles for Existence. In the operation of this natural law in the industrial realm there was always a deliberate but peaceful competition which inventions instituted upon their adoption. This same principle, exemplified in the industrial achieve ments, must form our basis for political, social, financial and moral progress. Violent or sudden changes are therefore destructive of orderly and permanent progress. With this natural law in mind I have presented an eco nomic remedy which in no way interferes or opposes the sys tem at work, on the contrary it seeks to strengthen such sys tem primarily and thereafter render services for gradual cor rection of errors. The remedy therefore displaces no custom', no regulation, and no rule of conduct in and by its adoption, but simply adds another rule to those already in existence, and if the applica tion of this remedy after adoption proves to possess superior merit, then as a natural consequence other inferior customs, rules and regulations will gradually diminish in their impor tance and finally disappear. 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.