Best of
Economics

1954

History of Economic Analysis


Joseph A. Schumpeter - 1954
    A complete history of efforts to understand the subject of economics from ancient Greece to the present, this book is an important contribution to the history of ideas as well as to economics. Although never fully completed, it has gained recognition as a modern classic due to its broad scope and original examination of significant historical events. Complete with a new introduction by Mark Perlman, who outlines the structure of the book and puts Schumpeters work into current perspective, History of Economic Analysis remains a reflection of Schumpeters diverse interests in history, philosophy, sociology, and psychology. Major topics include the techniques of economic analysis, contemporaneous developments in other sciences, and the sociology of economics; economic writings from Plato and Aristotle up through the time of Adam Smith, including the medieval scholastics and natural-law philosophers; the work of Malthus, Mill, Ricardo, Marx, and the important European economists; the history, sociology, psychology, and economics of the period 1879-1914; and modern economic developments. Schumpeter perceived economics as a human science, and this lucid and insightful volume reflects that perception, creating a work that is of major importance to the history of economics.

The Income Tax: Root of All Evil


Frank Chodorov - 1954
    For the Amendment gives to the Federal Government first claim upon the earnings of the individual, and so infringes his natural right to own what he produces.With its graduated-tax provision, the Income Tax Amendment is a replica of that clause in the Communist Manifesto which provides for the confiscation of all property through the use of just such a tax.Not only is the individual citizen's liberty partitioned by the Amendment, but the several states are deprived of their Constitutional sovereignty, and the central Federal Government is overstrengthened at their expense. This growth of centralized power is a development which generations of Americans fought stubbornly to prevent.And the Federal Government, by the very nature of government itself, increases its "needs" in accordance with its means of revenue. Reduce Federal income, argues Frank Chodorov, and Federal "needs" will automatically be reduced.The author takes a forthright stand as he defines the immoral nature of income taxation and the fallacy of using to "level off" society. And finally he outlines what can be done to repeal the Income Tax Amendment, bearing in mind the Federal Government's legitimate need for revenue.

Capitalism and the Historians


Friedrich A. Hayek - 1954
    The authors offer documentary evidence to support their conclusion that under capitalism the workers, despite long hours and other hardships of factory life, were better off financially, had more opportunities, and led a better life than had been the case before the Industrial Revolution.

On Law in Economy and Society


Max Weber - 1954
    H. Tawney and Tolcott Parsons, the thought of Max Weber has attracted increasing attention among students of sociology, history, economics, jurisprudence, political science, and political philosophy. His far-flung ideas were systematically brought together in his last book, Economy and Society, the major part of which was not published until after his death in 1921. Of this most comprehensive and significant of all of Weber's writings, only the Introductory Part has so far been available in English.The present book contains an English translation of those parts of Economy and Society in which Weber investigates the relationship between the social phenomenon "law" and the other spheres of social life, especially the economic and the political. The translation, by Edward A. Shils and Max Rheinstein, is accompanied by an extensive introduction and explanatory and bibliographical notes by Max Rheinstein. The Introduction will acquaint the reader with the problems of sociology of law in general and with Weber's approach and methods in particular. The notes are meant to help the reader understand Weber's wide-ranging references to institutions of Western and Oriental systems of law of both past and present; they also contain references to the sources used by Weber and to later literature which will help the reader evaluate Weber's statements and conclusions.Max Weber's main problem was to discover the causes of the rise of modern capitalism. In his discussions of the law he is primarily concerned with finding what features of Western law, if any, were favorable to the development of the capitalistic economy and in what ways this economy has reacted upon methods of legal thought. Is logical rationality, peculiar to certain parts of the Western world, connected with that rational method of economic thought which is characteristic of Western capitalism? His concern with methods of legal thought renders Weber's ideas specially significant for present American and English jurisprudence.Among the other problems he discusses are those of freedom of contract, its origins, its rise and its place among the institutions of capitalist and non-capitalist societies; the development of rational processes of law making; the connections between kinds of legal thought and the types of social functionaries by whom law is shaped in a given society; the social factors favoring or counteracting codification; and the economic and political significance of ideas of natural law.

Political Economy: A Textbook issued by the Economics Institute of the Academy of Sciences of the U.S.S.R


Academy of Sciences USSR - 1954
    The Primitive Communal Mode of Production Chapter  2. The Slave-Owning Mode of Production Chapter  3. The Feudal Mode of ProductionPart Two : The Capitalist Mode of Production A. Pre-Monopoly Capitalism Chapter  4. Commodity Production. Commodities and Money Chapter  5. Capitalist Simple Co-operation and Manufacture Chapter  6. The Machine Period of Capitalism Chapter  7. Capital and Surplus-Value. The Basic Economic Law of Capitalism Chapter  8. Wages Chapter  9. Accumulation of Capital and Impoverishment of the Proletariat Chapter 10. Rotation and Turnover of Capital Chapter 11. Average Profit and Price of Production Chapter 12. Merchant Capital and Merchants’ Profit Chapter 13. Loan Capital and Loan Interest. Circulation of Money Chapter 14. Ground-Rent. Agrarian Relations under Capitalism Chapter 15. The National Income Chapter 16. Reproduction of Social Capital Chapter 17. Economic Crises B. Monopoly Capitalism-Imperialism Chapter 18. Imperialism-The Highest Stage of Capitalism. The Basic Economic Law of Monopoly Capitalism Chapter 19. The Colonial System of Imperialism Chapter 20. The Place of Imperialism in History Chapter 21. The General Crisis of Capitalism Chapter 22. The Aggravation of the General Crisis of Capitalism after the Second World War Economic Doctrines of the Capitalist Epoch Part Three : The Socialist Mode of Production A. The Transitional Period from Capitalism to Socialism Chapter 23. Main Features of the Transitional Period from Capitalism to Socialism Chapter 24. Socialist Industrialisation Chapter 25. The Collectivisation of Agriculture Chapter 26. The Victory of Socialism in the U.S.S.R. B. The Socialist Economic System Chapter 27. The Material Production Basis of Socialism Chapter 28. Social Ownership of the Means of Production-The Foundation of the Production Relations of Socialism Chapter 29. The Basic Economic Law of Socialism Chapter 30. The Law of Planned Proportional Development of the National Economy Chapter 31. Social Labour in Socialist Society Chapter 32. Commodity Production, the Law of Value, and Money, in Socialist Society Chapter 33. Wages in Socialist Economy Chapter 34. Economic Accounting and Profitability Costs and Price Chapter 35. The Socialist System of Agriculture Chapter 36. Trade in Socialist Economy Chapter 37. The National Income of Socialist Society Chapter 38. State Budget, Credit, and Currency Circulation in Socialist Society Chapter 39. Socialist Reproduction Chapter 40. The Gradual Transition from Socialism to Communism C. The Building of Socialism in the Countries of People’s Democracy Chapter 41. The Economic System of the People’s Democracies in Europe Chapter 42. The Economic System of the Chinese People’s Republic Chapter 43. Economic Collaboration between the Countries of the Socialist Camp