Front Matter

THE MACMILLAN COMPANY

NEW YORK • BOSTON • CHICAGO ATLANTA • SAN FRANCISCO

MACMILLAN & CO., Limited

LONDON • BOMBAY • CALCUTTA MELBOURNE

THE MACMILLAN CO. OF CANADA, Ltd.

TORONTO

ESSENTIALS OF ECONOMIC THEORY

AS APPLIED TO MODERN PROBLEMS OF INDUSTRY AND PUBLIC POLICY

BY

JOHN BATES CLARK

PROFESSOR OF POLITICAL ECONOMY IN COLUMBIA UNIVERSITY

AUTHOR OF “THE DISTRIBUTION OF WEALTH,”

“THE PHILOSOPHY OF WEALTH,” “THE PROBLEM OF MONOPOLY,” ETC.

New York

THE MACMILLAN COMPANY

1915

All rights reserved

The Mises Institute, founded in 1982, is a teaching and research center for the study of Austrian economics, freedom, and peace. We work with students, faculty, business leaders, and anyone else interested in these ideas. In support of the school of thought represented by Ludwig von Mises and Murray N. Rothbard, we provide books, conferences, online education, and media. For we seek a radical shift in the intellectual climate, away from statism and toward a private property order.

For more information, see Mises.org, write us at info@mises.org, or phone us at 1-800-OF-MISES.

Mises Institute

518 West Magnolia Avenue

Auburn, Alabama 36832

Copyright, 1907,

By THE MACMILLAN COMPANY.

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Set up and electrotyped. Published October, 1907. Reprinted July, 1909; July, 1915.

Slight editing for typos and use consistency was done on this digital edition. No changes to the content were made.

Digital edition September 2013 by the Mises Institute

ISBN: 978-1-61016-014-8

eISBN: 978-1-61016-617-1