CAPITAL
Sec.1. A reference to Marx
Sec.2. Waiting for production
Sec.3. Waiting for consumption
Sec.4. Capital not A stock of consumable goods
Sec.5. The essence of waiting
Sec.6. Individual and social saving
Sec.7. The necessity of interest
Sec.8. The supply of capital
Sec.9. Involuntary saving
Sec.10. Interest and distribution
CHAPTER IX
LABOR
Sec.1. A retrospect on laissez-faire
Sec.2. Ideas and institutions
Sec.3. The general wage-level
Sec.4. The supply of labor in general
Sec.5. The apportionment of labor among places
Sec.6. The apportionment of labor among social grades
Sec.7. The apportionment of labor among occupations
Sec.8. Women’s wages
CHAPTER X
THE REAL COSTS OF PRODUCTION
Sec.1. Comparative costs
Sec.2. The allocation of resources
Sec.3. Utility and wealth
Sec.4. Criteria of policy
SUPPLY AND DEMAND
CHAPTER I
THE ECONOMIC WORLD
Sec.1. Theory and Fact. The controversy between the “Theorist” and the “Practical Man” is common to all branches of human affairs, but it is more than usually prevalent, and perhaps more than usually acrid in the economic sphere. It is always a rather foolish controversy, and I have no intention of entering into it, but its prevalence makes it desirable to emphasize a platitude. Economic theory must be based upon actual fact: indeed, it must be essentially an attempt, like all theory, to describe the actual facts in proper sequence, and in true perspective; and if it does not do this it is an imposture. Moreover, the facts which economic theory seeks to describe are primarily economic facts, facts, that is to say, which emerge in, and are concerned with, the ordinary business world; and it is, therefore, mainly upon such facts that the theory must be based. People sometimes speak as though they supposed the economist to start