Note 3 — PREFACE TO FIRST EDITION.

Mr. Macleod (Dictionary of Political Economy, vol. I, p. 246) speaks of Bastiat's definition of Value as "the greatest revolution that has been effected in any science since the days of Galileo."

See also Professor Perry's pamphlet, Recent Phases of Thought in Political Economy, read before the American Social Science Association, October, 1868, in which, it appears to me, that Bastiat's theory of Rent, in announcing which he was anticipated by Mr. Carey, is too highly praised.