By Knut Wicksell
ISBN-10: 0678065209
ISBN-13: 9780678065204
ISBN-10: 0678065322
ISBN-13: 9780678065327
Knut Wicksell used to be a Swedish economist who had a major effect on Austrian economics and Ludwig von Mises. this could be his such a lot compelling ebook: lectures introduced over the process a complete profession, overlaying either normal and particular economics difficulties. This one-volume works truly comprises volumes from the unique, which has been lengthy out of print. it's a fats 570 pages. All hail Wicksell!
570 pages, 6" x 9", paperback, 2007
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Example text
Statistics have not confirmed this : largely owing to indirect methods of use, the demand for and consumption of corn and other foodstuffs is almost as elastic and variable as that of other goods. There is this further point. g. where one commodity is a by-product in the manufacture of another. Such cases, which have been given by Marshall the technical name " joint supply ", are mentioned also by Mill in his chapter, " Some peculiar cases of value," l but, as the chapter heading indicates, Mill regarded them as exceptions to the rule.
We shall assume, in principle, a society which retains unchanged from year to year the same population, the same area of territory and the same amount of capital, and remains on the same level of technical achievement. By way of transition to a more dynamic point of view, which can only be successfully presented in combination with the practical part of our subject, we shall briefly treat the problem of saving or accumulation of capital—which is equivalent to production without corresponding consumption—as well as its negative counterpart, capital consumption.
Generally speaking, and even apart from the above division of the subject, it will be found that the theory of population, which can never be omitted from a complete treatise on political economy, can never find a suitable place in the system unless it forms an introduction to the whole. In actual fact, it is impossible to consider economic problems profitably, whether they are of a practical or theoretical kind, unless we constantly keep population and its changes in view. On the other hand, it would appear that certain problems of population are of such a complicated nature that they cannot be solved without a thorough knowledge of every part of the theory of economic structure.
Lectures on Political Economy by Knut Wicksell
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