Essentials of Economic Theory

In a work on the “Distribution of Wealth,” which was published in 1899, I expressed an intention of offering later to my readers a volume on “Economic Dynamics, or The Laws of Industrial Progress.” Though eight years have since passed, that purpose is still unexecuted, and it has become apparent that any adequate treatment of Economic Dynamics will require more than one volume of the size of the present one. In the meanwhile it is possible to offer a brief and provisional statement of the more general laws of progress.