PRINCIPLES OF THE ECONOMIC PHILOSOPHY OF SOCIETY, GOVERNMENT AND INDUSTRY

Tribal Precedes State Ownership.-23. Charitable and
Religious Communism.-24. Relative Inducement to
Effort under Both Systems.-25. Wealth Dependent on
Exchange-How Far.-26. Private or Individual (Includ-
ing Corporate) Wealth.-27. The Commonwealth.-28.
The Family and Its Wealth.-29. Social and Spiritual
Wealth.-30. The Wealth of Nations.-31. The Evanes-
cence of Wealth.-32. Can Poverty be Abolished?

CHAPTER III.-VALUES AND PRICES.

33. What is Value ?-34. Fallacy of Resting Value on Labor.

-35. Whence Comes Value ?-The Consumer.-36. The

Consumer's Place in Industry.-37. Karl Marx's Theory

of Value.-38. Why Men Exchange.--39. The Theory of

Value.-40. Markets are the Index of Values.-41. Free-

dom in Establishing Prices.--42. Cornering the Market.-

43. How Prices are Made.-44. Errors Concerning Causes

of Prices.-45. Tooke on Prices.-46. Prices Rise in Dis-

proportion to Scarcity.-47. Permanent and Temporary

Cheapness.-48. Relation of Prices to Freedom.--49.

Countries of Low and High Prices.

CHAPTER IV.-TITLE AND USE....

50. Title and Labor.-51. Title Dates from Seizure or Appro-

priation.--52. Private Title is Monopoly.-53. The State

as a Form of Monopoly.-54. Title the Source of Ex-

change, and of Division of Labor.--55. Titles Becoming

Private.-56. The American Land System.-57. Effect of

Free Land on Immigration.-58. Wasting the Land.-59.

American Railway System in Its Unproductive Infancy.
60. The Era of Consolidation.-61. Great Land Grants to

Railways.-62. Socialistic Reaction Against Railways.--63.

Objections to Socialistic Theories Concerning Railways.

CHAPTER V.-PROFIT AND LOSS.

64. The Beginnings of Industry.-65. Capital and Labor

to be Partners.-66. Organization of Labor by Force.---67.

Adam Smith on Wages.-68. Equivalence of Exchange in

the Wages Contract.--69. Instances of Equality of Divi-

sion.--70. Productive Industry is a Form of Social Gov-

ernment.-71. Do the Indispensable Means of Labor Earn

a Share of the Product ?-72. Does the Risk of Loss Give
Valid Title to the Profit ?-73. Loss as well as Profit an
Economic Force.-74. The Rate of Profit.

CHAPTER VI.-CAPITAL.

75. Definitions.-76. Distribution of Wealth Precedes and

Causes Production.-77. Is Economic Distribution Just?

-78. Dispersion of Capital is a Mode of Destroying It.—

79. How Distribution of Wealth Attends its Accumulation

and Getting Rich is Doing Good.-80. The Greater the

Accumulation of Reproductive Wealth, the More Equal

the Diffusion of Enjoyable Wealth.--81. Capital_as
Laborer.-82. Forms of Capital.-83. Capital as an Eman-
cipator.-84. Re-distribution of Ill-used Wealth.-85.
Distribution by Luxury-86. Its Humanity Arraigned.
87. Society's Gain by Economy.-88. Society's Gain by
Large Accumulations.--89. Large Capitals Lessen Con-
sumption.-90. Effects of Large Capitals on Rates of
Wages.--91. Constancy of Returns.-92. What Makes
High Profits?-93. Malthus' So called Law.-94. Fewer
Producers--Less Production.-95. Wages are Also Capital.

CHAPTER VII.-LAND...

96. Values of Land.--97. True Cause of Rent.-98. Rent and

Transportation.-99. Rent as a Balance to Transportation.

-100. Rent as a Dispersive Force on Population.-101.

Exhaustion of Soils.--102. Values of Land Due to the

Consumers of Land Products.-103. Machinery in Farm-

ing.-104. Effects of Releasing Labor by Machinery.-105.

Tenant Farms and Large Holdings in America.-106.

Large and Small Land Holdings in England.--107. Land

in Ireland.-108. Evolution of Cultivated Plants as Sources

CHAPTER VIII.-LABOR..

CONTENTS.

109. Definition of Labor.-110. Work Differs from Labor.—

111. All Labor Can Not be Agreeable.-112. Labor Less
Broad than Production.-113. The Wage Fund ”

Doctrine.-114. The Rate of Wages and Margin of Profits.

-115. Is Population a Check on Wages? -116. Countries

of High and Low Wages.-117. Labor-Saving Machines.

-118. Labor Combinations.-119. Arbitration and Labor

Courts.-120. Labor Agitations for a Social Revolution.—

121. Causes which Compel Men to Work for Wages--122.

The Organization of Labor in Industry.-123. The Terms

of Partnership, Labor, and Capital.-124. Effect of Impor-

tation of Competing Products on the Wages of Labor.-

125. Effect of Military Protection to Foreign Trade on

Home Wages.-126. Diversity of Industries Essential to

High Wages.-127. Exclusion of Immigration as a Measure

to Promote Wages.-128. The Barter of Domestic Labor

for Domestic Labor Promotes Domestic Wages.-129.

Wages of Social Labor.-130. Wages of Women.

CHAPTER IX.-MONEY...

131. What is Money?-132. Origin of Money.-133. The Form

of Money.-134. The Substance of Coins.-135. Changes

in British Coinage.-136. The Standard.-137. The Ratio

between the Money Metals.-138. Exchangeable Credit as

Quasi Money.-139. Bills of Exchange and Notes.-140.

Money of Account.-141. Bank Deposits and Checks.

142. Bank Notes.-143. Government Notes and Debts.

144. The Volume of Credit.-145. Relative Cost and

Economy of Coin and Credit-Fiat Money.-146. Variations

in the Volume of Money.--147. The Single and Double

Standard.-148. Rate of Production of Gold and Silver.

CHAPTER X.-CRISES.

149. Crises Defined.-150. Crises Produced by Excessive Im-

portation of Competing Products.-151. Competing Im-

ports Again the Cause.-152. Exhaustion of Capital.-153.

Great Wars Seldom, if Ever, Produce, but Often Avert or

Remedy Crises.-154. The American Crisis of 1837.-155.
Crisis of 1857.-156. The Crisis of 1866.-157. The Crisis
of 1873-9.-158. The Balance of Trade.-159. Doctrine
of the Balance of Trade.-160. Are Crises Useful or Penal?

CHAPTER XI.-THE STATE..

161. Government Is Natural.-162. Interest Organizes Indus-

try.-163. The Motive Force in Industry.-164. Forms of

Government Dependent on the Evolution of Occupations.

-165. Governments Classified.-166. Parliamentary and

Representative States,-167. Diversity of Form in Repub-

lics.-168. Diversity of Functions and Objects.-169.

Local Govern ment.-170. The State as Related to

Industry.-171. Coercion and Attraction in the State.-

172. Government by Force.-Voting by Males.-173.

Armies and Their Cost.-174. Crime and Its Punishment.

-175. Social Crimes and Insanities.-176. The Recent

vii

CHAPTER XII.-TAXATION.

177. Origin of Taxes.-178. Standards of Equal Taxation.---

179. An Ideal Theory of Taxation.-180. The Search for

the Incidence of Taxation, and of Specific Taxes.-181.

The Practice of Modern Governments in Taxation.-The

United States.-182. Taxation in Great Britain.-Local.-

183. General Taxation in Great Britain.-184. India.-

Taxation by Profits of Enforced Foreign Trade.-185.

Taxation by Profits of Enforced Trade.-Turkey.-186.

Taxation by Profits of Enforced Trade.-Ireland.

187. France. Conditions. 188. France. - Revenues. - 189.

France, as Discussed by Smith.-190. Taxation as a Cause

of Production. Beet Sugar. 191. The Sophisms of

Bastiat.-192. Modern Germany.-Protective Taxation a

Source of National Unity.-193. Germany's Present System
of Taxation. 194. Revenue System of Russia.-195.
English Colonies.-196. China and Japan.

CHAPTER XIV.-THE FREE TRADE CRITICISM.

197. Methods of Argument Concerning Protection and So-

called Free Trade.-198. Sidgwick on Protection to Native

Industry. 199. Moffat on Protection in Growing Coun-

tries. 200. Devas on Protection.-201. Prof. Perry's

Free-Trade Methods.-Does or Does Not Free Trade

Employ Foreign Labor?-202. Why Canadians May Not

Have Free Trade with Vermont.-203. The Profit Argu-

ment.-Protection Profits a Nation or Nations Would

Not Protect.-204. Cost of Labor in America and Europe.
-205. Making Taxes Productive.-206. Collecting Taxes

from Foreign Producers.-207. Whether the Duty Raises

the Price on the Whole Domestic Product.-208. Getting

Cutlery by Making Buttons.-209. Must a Nation Import

Commodities in order to Export Them, or Buy Them in

order to Sell Them?-210. The Theory of Barter Does
Not Aid the Free-Trade Criticism.-211. Private, Special,
and Public Interests.-212. Protection Universal.

452

496

555

CHAPTER XV.-ECONOMY OF PROTECTION.

213. How a Tariff May Protect Producers.--214. When Duties

on Imports Protect from Taxation.-215. When Protection

Promotes Production.-216. Protection Promotes Wages.

-217. Protection Promotes National Unity and Peace.

609

CONTENTS.

CHAPTER XVI.-STATE ACTION IN RELATION TO SPECIAL

INDUSTRIES..