THE PRINCIPLES OF ECONOMICS
WITH APPLICATIONS TO PRACTICAL PROBLEMS
BY
FRANK A. FETTER, PH.D.
PROFESSOR OF POLITICAL ECONOMY AND FINANCE,
CORNELL UNIVERSITY
NEW YORK
THE CENTURY CO.
1904
Copyright, 1904, by
The Century Co.
The DeVinne Press
TO THE STUDENTS
OF THREE UNIVERSITIES
—INDIANA, STANFORD, AND CORNELL—
FOR WHOM, WITH WHOM, AND BY WHOSE AID
THIS BOOK CAME TO BE WRITTEN
CONTENTS
PART I
PAGE
The Value of Material Things 1-169
DIVISION A—WANTS AND PRESENT GOODS
CHAPTER
1 The Nature and Purpose of Political Economy: Nameand Definition; Place of Economics Among the
Social Sciences; The Relation of Economics to Practical Affairs 3
2 Economic Motives: Material Wants, The PrimaryEconomic Motives; Desires for Non-material Ends,
as Secondary Economic Motives 9
3 Wealth and Welfare: The Relation of Men andMaterial Things to Economic Welfare; Some Important
Economic Concepts Connected with Wealthand Welfare 15
4 The Nature of Demand: The Comparison of Goodsin Man's Thought; Demand for Goods Grows Out
of Subjective Comparisons 21
5 Exchange in a Market: Exchange of Goods Resultingfrom Demand; Barter Under Simple Conditions;
Price in a Market 30
6 Psychic Income: Income as a Flow of Goods; Incomeas a Series of Gratifications[Pg viii] 39
DIVISION B—WEALTH AND RENT
7 Wealth and Its Direct Uses: The Grades of Relationof Indirect Goods to Gratification; Conditions of
Economic Wealth 46
8 The Renting Contract: Nature and Definition ofRent; The History of Contract Rent and Changes
in It 53
9 The Law of Diminishing Returns: Definition of theConcept of (Economic) Diminishing Returns; Other
Meanings of the Phrase "Diminishing Returns";Development of the Concept of Diminishing Returns 61
10 The Theory of Rent: The Market Value of theUsufruct: Differential Advantages in Consumption
Goods; Differential Advantages in Indirect Goods 73
11 R BU KİTABI OKUMAK İÇİN ÜYE OLUN VEYA GİRİŞ YAPIN!
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