The Equilibrium in Industry

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Excerpt from The Equilibrium in Industry: Address as President of the American Statistical Association, Annual Meeting, Atlantic City, New Jersey, December 29, 1920The primitive man did everything for himself, and enjoyed the maximum degree of independence, but lived in a very low state of civilization. The development of the arts, the rise of the standard of living and the expansion of the mental horizon, have come with the division of labor, but the division of labor by its very terms requires that men shall exchange products and services with each other, becoming mutually helpful and dependent.About the PublisherForgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.comThis 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.