Economics (Classic Reprint)

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Excerpt from Economics Economics examines the thoughts and actions of groups of men in making, acquiring, and using wealth. Man's welfare consists of his activities and of his enjoyment of the results of his activities. As father, neighbour, or citizen, he finds his satisfaction in the mere exercise of his powers and sympathies. But he goes to his daily work not primarily from an interest in the work itself, but in order to earn the necessaries, comforts, or luxuries which he believes to be essential or contributory to his welfare. So far as he makes these his object, his interest lies not in the activity but in its outcome. What might otherwise be recreation becomes work, for it has to be done under conditions not of his own choosing, to which he submits because only thus can he obtain the wealth which he seeks. At the outset, then, we must try to get some general conception of the nature of this wealth and of the ways in which he seeks it. (a) Wealth is relative to man and to his conception of well-being. How far welfare is externally conditioned it is not our business here to determine. It is enough for our purpose to note that to be wealth in the economic sense of the term a thing must meet some human want or satisfy some human desire. 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.