Economics; Briefer Course

Paperback | January 31, 2012

byHenry Rogers Seager

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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1909. Excerpt: ... CHAPTER XXIV ECONOMIC PROGRESS 232. The Nature of Economic Progress.--Economic progress is improvement in general well-being due either to increased command over economic goods or to reduced costs of production. It may show itself in increased earnings for the laboring masses, in shortened hours of labor or in an increased adaptation of work to the tastes and capacities of workmen. Definite as these criteria of progress appear to be, it is unfortunately true that there are no means of comparing them accurately from generation to generation. Until recently few records were kept of the commodities which families in different circumstances were in the habit of consuming. Even those which are now preserved will be puzzling in many of their details to future economists because the goods consumed will have changed in kind and quality as well as in quantity. The impossibility of making exact allowance for such changes opposes a permanent barrier to accurate comparisons between the standards of living of different periods. Similar difficulties are encountered in trying to gage changes in the sacrifices involved in production. If it can be shown that the length of the working day has been shortened, it may yet be claimed by the unbelieving that the intensity of labor has increased correspondingly, and there is no certain way of deciding whether or not this has been the case. Under these circumstances the economist must content himself with comparing those objective indications of well-being, such as the rates of wages earned by workmen of different grades, the length of the working day, etc., which admit of measurement and appeal to the judgment of intelligent observers to determine whether these and other changes have really added to human welfare. Even so simple...

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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1909. Excerpt: ... CHAPTER XXIV ECONOMIC PROGRESS 232. The Nature of Economic Progress.--Economic progress is improvement in general well-being d...

Format:PaperbackDimensions:154 pages, 9.69 × 7.44 × 0.33 inPublished:January 31, 2012Publisher:General Books LLCLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0217834183

ISBN - 13:9780217834186

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