Book 10 — INDEX.

Bagehot, Walter, arrest of civilization, 480-481;

why barbarians waste away, 497-498.

Bastiat, cause of interest, 176-186.

Bisset, Andrew, knight’s service, 381n.

Buckle, assumes current doctrine of wages, 18;

on Malthus, 92-93, 100;

interest and profits, 158;

relation between rent, wages and interest, 170.

Cairnes, J. E., high wages and interest in new countries, 20-22.

California, economic principles exemplified in, 19-20, 61-63, 78, 144-146, 174, 255-256, 271-275, 290-291, 344, 383-385, 392, 398, 434-435.

Capital, current doctrine of its relation to wages, 17-18;

idle in industrial depressions, 21;

theory that wages are drawn from, 20-23;

deductions from this theory, 24-25;

varying definitions of, 32-34;

difficulties besetting use of term, 36-37;

exclusions of term, 37-38;

distinguished from wealth, 41-47, 71-72;

used in two senses, 56-57;

definitions of Smith, Ricardo, McCulloch, and Mill compared, 41-45;

wages not drawn from, 23-29, 49-69;

does not limit industry, 26-29, 57-58, 80-86;

does not maintain laborers, 70-78;

modes in which it aids labor, 79, 186-188, 195-196;

real functions of, 79-87;

may limit form and productiveness of industry, 80-82;

apparent want of generally due to some other want, 82-85;

limited by requirements of production, 85-86;

poverty not due to scarcity of, 85-86;

not necessary to production, 163-164;

a form of labor, 164, 198, 203;

its essence, 179;

spurious, 189-194;

not fixed in quantity, 195;

if the only active factor in production, 201-202;

its profits as affected by wages, 308-309;

wastes when not used, 311;

invested upon possessory titles, 385.

Carey, Henry C., on capital, 34;

rent, 225.

China, cause of poverty and famine, 121-122;

civilization, 480-481.

Civilization, what, 475-476;

prevailing belief as to progress of, 476-479;

arrest of, 479-486;

differences in, 487-502;

its law, 503-523;

retrogression, 482-486, 536-537;

to endure must be based on justice, 543-546;

character of European, 518, 526.

Civilization, modern, its riddle, 10;

has not improved condition of the lowest class, 281-284;

development of, 372-382;

superiority, 519-520;

may decline, 524-528;

indications of retrogression, 537-540;

its possibilities, 452-469, 549.

Communities, industrial, extent of, 197.

Confucius, descendants of, 111-112.

Consumption, supported by contemporaneous production, 72-75;

demand for determines production, 75-76;

only relative term, 133;

increase of shows increasing production, 149.

Co-operation, not a remedy for poverty, 314-317;

but will follow from the extirpation of poverty, 452-469.

Debts, public, not capital, 189-190;

origin and abolition, 381-382, 453.

Demand, not fixed, 243, 245-247. (See Supply and Demand.)

Deutsch, Emanuel, human nature, 495.

Development, concentration the order of, 325.

Development Philosophy, relations to Malthusianism, 100-101;

insufficiency of, 473-486.

Discount, high rates of, not interest, 21n.

Distribution, terms of exclusive, 37, 38, 162;

laws of, 153-222;

their necessary relation, 160-164;

as currently taught, 160-161;

contrasted with true laws, 218;

equality of, 450-451.

Education no remedy for poverty, 305-306.

Exchange, functions of, 27-29, 76-77;

a part of production, 47;

brings increase, 182-183, 186-187;

extends with progress of civilization, 197;

promotes civilization, 508-509.

Exchanges, credit in, 276-277;

effect of wages on international, 309-310.

Fawcett, Prof., Indian expenditures, 120n;

value of land in England, 287.

Fawcett, Mrs., laborers maintained by capital, 70;

land tax, 421.

Feudal system, recognition of common rights to land, 372-375, 381;

infeudation, 396-397.

Fortunes, great, 193-194, 386-387, 451.

Franklin, Benjamin, his economy, 303.

Government, improvements in increase production, 227, 252;

will not relieve poverty, 298-301;

simplification and change of character, 452-469;

tendency to republicanism, 526-527;

transition to despotism, 301, 527-528.

Guizot, Europe after fall of Roman Empire, 372-373;

the question that arises from a review of civilization, 553.

Hyndman, H. M., Indian famine, 119-120.

Improvements in the arts, effect upon distribution, 242-252;

in habits of industry and thrift, will not relieve poverty, 301-308;

upon land, their value separable from land values, 341-342, 422-423.

India, cause of poverty and famine, 114-121;

civilization, 480, 481, 497.

Industrial depressions, extent and significance, 5-6, 537-538;

conflicting opinions as to cause, 10-11;

their cause and course, 261-279;

connection with railroad building, 272-274;

passing away, 279.

Industry, not limited by capital, 26, 56-57;

may be limited in form and productiveness by capital, 80-86.

Interest, confusion of term with profits, 156-163;

proper signification, 161-162;

variations in, 174;

cause of, 174-188;

justice of, 187;

profits mistaken for, 189-194;

law of, 195-203;

normal point of, 198-199;

formulation of law, 202.

Interest and wages, evident connection, 19-21;

relation, 171-172, 199-203, 218;

why higher in new countries, 221.

Inventions, labor-saving, failure to relieve poverty, 3-5;

advantage of goes primarily to labor, 179, 195-196;

except when not diffused, 251;

effect of, 242-252;

brought forth by freedom, 521-523.

Ireland, cause of poverty and famine, 123-128;

effect of introduction of potato, 303-304.

Labor, purpose of, 27-29, 244-245, 396;

meaning of term, 37-38;

produces wages, 27-29, 49-69;

precedes wages, 55-58;

employs capital, 163, 195;

eliminated from production, 201-202;

productiveness varies with natural powers, 205;

no fixed barriers between occupations, 210-211;

value of reduced by value of land, 221-222;

supply and demand, 268-269;

land necessary to, 270, 292-294;

cause of want of employment, 271-272;

family, 304;

combination, 308-314;

only rightful basis of property, 332-335;

efficiency increases with wages, 441-442;

not in itself repugnant, 465.

Labor and Capital, different forms of same thing, 163-164, 198, 203;

whence idea of their conflict arises, 189, 194;

harmony of interests, 198-203.

Laborers, not maintained by capital, 70-78;

where land is monopolized, have no interest in increase of productive power, 281;

made more dependent by civilization, 281-284;

organizations of, 308-314;

condition not improved by division of land, 321-325;

their enslavement the ultimate result of private property in land, 345-355.

Land, meaning of term, 37;

value of is not wealth, 39, 165-166;

diminishing productiveness cited in support Malthusian theory, 97;

how far true, 133-134, 228-241;

maintenance of prices, 274-275;

estimated value of in England, 287;

effects of monopolization in England, 288-289;

relation of man to, 292-294;

division of will not relieve poverty, 319-325;

tendency to concentration in ownership, 319-321;

necessity for abolishing private ownership, 326-327;

injustice of private property in, 331-392;

absurdity of legal titles to, 340, 342-344;

aristocracy and serfdom spring from ownership of, 294, 348-355, 514-515;

purchase by government, 357-358;

development of private ownership, 366-382;

commons, 375-376;

tenures in the United States, 383-392;

private ownership inconsistent with best use, 395-400;

how may be made common property, 401-427;

effects of this, 452-469;

increase of productiveness from better distribution of population, 449n.

Land owners, power of, 167, 292-294, 345-355;

ease of their combination, 312-313;

their claims to compensation, 356-365;

will not be injured by confiscation of rent, 445-469.

Latimer, Hugh, increase of rent in Sixteenth Century, 288-289.

Laveleye, M. de, on small land holdings, 324-325;

primitive land tenures, 369;

Teutonic equality, 372.

Lawyers, confusions in their terminology, 335-336;

their inculcation of the sacredness of property, 366;

influence on land tenures, 370n.

Life, quantity of human, 109-110;

limits to, 129-134;

reproductive power gives increase to capital, 181;

balance of, 196-197;

meaning of, 561.

Macaulay, English rule in India, 116;

future of United States, 534.

Machinery. (See Inventions.)

McCulloch, on wages fund, 22-23n;

definition of capital, 33-34;

compared, 42-44;

principle of increase, 101;

Irish poverty and distress, 125-126;

rent, 232;

tax on rent, 420, 422-425.

Malthus, purpose of Essay on Population, 98;

its absurdities, 104-105, 137;

his other works treated with contempt, 105-106n;

fall of wages in Sixteenth Century, 288;

cause of his popularity, 98-100, 336-337n.

Malthusian Theory, stated, examined and disproved, 91-150;

as stated by Malthus, 93-94;

as stated by Mill, 94-95, 140-141;

in its strongest form, 95;

its triumph and the causes, 95-96;

harmonizes with ideas of working classes, 98;

defends inequality and discourages reform, 98-99, 140-141, 336-337n;

its extension in development philosophy, 101;

now generally accepted, 101-102;

its illegitimate inferences, 103-139;

facts which disprove it, 140-150;

its support from doctrine of rent, 97, 132-133, 228-229;

effects predicated of increase of population result from improvements in the arts, 242-252;

the ultimate defense of property in land, 336-337n.

Man more than an animal, 129-131, 134-136, 307, 464, 473-475, 492-493;

his power to avail himself of the reproductive forces of nature, 131-132;

primary right and power, 332-333;

desire for approbation, 456-458;

selfishness not the master motive, 460-461;

his infinite desires, 134-136, 243, 245-247, 464-465, 503;

how improves, 475;

idea of national or race life, 485-486;

cause of differences and progress, 487-502;

hereditary transmission, 492-502;

social in his nature, 506.

Mill, John Stuart, definition of capital, 34, 71-72;

industry limited by capital, 56-57n, 70-71;

Malthusian doctrine, 94-95, 111;

effect of unrestricted increase of population, 140-141;

confusion as to profits and interest, 158;

law of rent, 168;

wages, 213;

government resumption of increase of land values, 358-360;

influence of Malthusianism, 360-361;

tax on rent, 420-421.

Money, when capital, 45;

in hands of consumer, 46n;

confounded with wealth, 60-61;

lack of commodities spoken of as lack of, 266.

Monopolies, profits of, 191-194;

cause of certain, 408-409.

More, Sir Thomas, ejectments of cottagers, 289.

Nature, its reproductive power, 180-182;

utilization of its variations, 182-183, 185-187;

equation between reproduction and destruction, 196-197;

impartiality of, 333-334.

Nicholson, N. A., on capital, 35.

Nightingale, Florence, causes of famine in India, 118-119, 119n, 120n.

Perry, Arthur Latham, on capital, 34;

rent, 225.

Political Economy, its failure, its nature and its methods, 10-13;

doctrines based upon the theory that wages are drawn from capital, 24-25;

importance of definitions, 30-36;

its terms, abstract terms, 47;

confusion of standard treatises, 56-57, 158-161, 218;

the erroneous standpoint which its investigators have adopted, 162-163;

its fundamental principle, 12, 204, 217, 560;

writers on, stumbling over law of wages, 215-216;

compared with astronomy, 219-220;

deals with general tendencies, 278-279;

admissions in standard works as to property in land, 356-358;

principles not pushed to logical conclusions, 421;

the Physiocrats, 421-422;

unison with moral truth, 230, 484;

its hopefulness, 557;

effect on religious ideas, 555-556.

Population and Subsistence, 91-150. (See Malthusian Theory.)

Population, inferences as to increase, 103-104;

of world, no evidence of increase in, 107-110;

present, 113n;

increase of descendants not increase of, 112;

only limited by space, 133-134;

real law of increase, 137-139;

effect of increase upon production and distribution, 228-241;

increase of increases wealth, 140-150;

puts land to intenser uses, 320;

increase in United States, 390.

Poverty, its connection with material progress, 6-10;

failure to explain this, 10-11;

where deepest, 222;

why it accompanies progress, 280-294;

remedy for, 326-328;

springs from injustice, 338-339, 541-542;

its effects, 354, 456-464.

Price, not measured by the necessity of the buyer, 185;

equation of equalizes reward of labor, 204.

Production, same principles obvious in complex as in simple forms, 26-29;

factors of, 37, 162, 203, 270, 292-294;

includes exchange, 47;

the immediate result of labor, 64-67;

directed by demand for consumption, 75;

functions of capital in, 79-87, 162-164;

simple modes of sometimes most efficient, 84-85;

only relative term, 133;

increased shown by increased consumption, 149;

meaning of the term, 155;

utilizes reproductive forces, 179-182;

time an element in, 180-185;

the modes of, 186;

recourse to lower points does not involve diminution of, 229-232;

tendency to large scale, 320-321, 325, 531-532;

susceptible of enormous increase, 431-434, 466, 547.

Profits, meaning of the term and confusions in its use, 158-162, 189-194.

Progress, human, current theory of considered, 473-486;

in what it consists, 487-502;

its law, 503-523, 541-549;

retrogression, 524-540.

Progress, material, connection with poverty, 7-11, 222;

in what it consists, 227;

effects upon distribution of wealth, 228-241;

effect of expectation raised by, 253-258;

how it results in industrial depressions, 261-279;

why it produces poverty, 280-294.

Property, basis of, 331-334, 340-342;

erroneous categories of, 335;

derivation of distinction between real and personal, 377;

private in land not necessary to use of land, 395-400;

idea of transferred to land, 514-515.

Protection, its fallacies have their root in belief as to wages, 19;

effect on agriculturists, 447-449;

abolition by England, effect of, 252;

how protective taxes fall, 447-448.

Quesnay, his doctrine, 422-423, 431.

Rent, bearing upon Malthusian theory, 96-98, 132-134, 228-241, 242-252;

meaning of the term, 165;

arises from monopoly, 166;

law of, 168-170;

its corollaries, 171, 217-218;

effect of their recognition, 171-172;

as related to interest, 201-203;

as related to wages, 204-216;

advance of explains why wages and interest do not advance, 221-222;

increased by increase of population, 228-241;

increased by improvements, 242-252;

by speculation, 253-258;

speculative advance in the cause of industrial depressions, 261-279;

advance in explains the persistence of poverty, 280-294;

increase of not prevented by tenant right, 322;

or by division of land, 324-325;

serf, generally fixed, 353;

confiscation of future increase, 357-359;

a continuous robbery, 362-363;

feudal rents, 372-375;

their abolition, 378-381;

their present value, 381-382;

rent now taken by the State, 397-400;

State appropriation of, 401-427, 514-515;

taxes on, 406-419;

effects of thus appropriating, 431-486.

Reade, Winwood, Martyrdom of Man, 478n, 479n.

Religion, necessary to socialism, 318;

promotive of civilization, 509, 519-520;

Hebrew, effects on race, 495-496;

retrogression in, 536-537;

change going on, 540;

animosities created by, 507n;

consensus of, 560-561.

Ricardo, definition of capital, 33;

inference as to population, 71;

enunciation of law of rent, 168;

narrow view of, 168-169, 225;

tax on rent, 420.

Royce, Samuel, Deterioration and Race Education, 538n.

Slaveholders of the South, their view of abolition, 351-353.

Slavery, chattel, comparatively trivial effects of, 347;

modifying influences, 353-354;

not truly abolished in United States, 355, 392;

never aided progress, 522-523.

Smith, Adam, definition of capital, 32-33, 36-42, 44, 45-46;

recognizes truth as to source of wages and then abandons it, 50;

influence of Malthusian theory upon, 92;

profits, 157;

how economists have followed him, 159;

differences of wages in different occupations, 207-208, 209-210;

his failure to appreciate the laws of distribution, 215;

taxation, 416-419.

Socialism, its ends and means, 317-319;

practical realization of its ideal, 431-469.

Social organization and life, possible changes, 452-69.

Spencer, Herbert, compensation of land owners, 357-358, 362;

public ownership of land, 402;

evolution, 478, 485;

human progress, 478-479;

social differences, 502.

Strikes, 310-314.

Subsistence, population and, 91-150;

increases with population, 129-133;

cannot be exhausted, 133-134;

included in wealth, 142, 244;

demand for not fixed, 245-246. (See Malthusian Theory.)

Supply and demand, of labor, 208-209;

relative terms, 266-267;

as affected by wages, 308-310.

Swift, Dean, his Modest Proposal, 126.

Taxation, eliminated in considering distribution, 155;

reduction of will not relieve poverty, 297-301;

considered, 406-427;

canons of, 406;

effect upon production, 406-412;

ease and cheapness in collection, 412-414;

certainty, 414-416;

equality of, 416-419;

opinions on, 420-423;

objections to tax on rent, 422-427;

cause of manifold taxation, 425-427;

how taxation falls on agriculturists, 447-450;

effects of confiscating rent by taxation, 431-469.

Tennant, Rev. Wm., cause of famine in India, 115-116.

Thornton, Wm., on wage fund, 18n;

on capital, 35.

Values, equation of, 196-197.

Wages, current doctrine, 17;

it coincides with vulgar opinion, 18;

but is inconsistent with facts, 19-22;

genesis of current theory, 22;

difference between it and that herein advanced, 23-25;

not drawn from capital but produced by labor, 23, 25-29, 49-69;

meaning of the term, 31-32;

always subsequent to labor, 56-58;

fallacy of the assumption that they are drawn from capital, 56-57;

for services, 59n;

connection between current doctrine and Malthusian theory, 92-95, 96-97;

confusion of terms produced by current theory, 159;

rate of, 204;

law of, 204-216;

formulated, 213;

in different occupations, 207-212;

as quantity and as proportion, 216;

not increased by material progress, 303-304;

minimum fixed by standard of comfort, 303;

effect of increase or decrease on employers, 308-309;

equilibrium of, 310-311;

not increased by division of land, 323-325;

why they tend to wages of slavery, 346;

efficiency of labor increases with, 442.

Wages and Interest, high or low together, 19-22;

current explanation, 19;

Cairne’s explanation, 20-22;

true explanation, 170-172, 199-203, 221;

formulated, 218.

Wages of Superintendence, 159;

used to include profits of monopoly, 191.

Walker, Amasa, capital, 35.

Walker, Prof. F. A., wages, 18n;

capital, 35.

Wayland, Professor, definition of capital, 34.

Wealth, increase of not generally shared, 8-9;

meaning of term, 38-40;

interchangeability of, 47-48, 142, 181-182, 244-247;

confounded with money, 60-61;

increases with population, 141-150;

accumulated, 147-149;

laws of distribution, 153-216;

formulated, 218;

nature of, 147-149, 180, 205;

political effects of unequal distribution, 300, 527-535;

effects of just distribution, 438-444, 450-451, 452-469.