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Excerpt from Introduction to Economics The presentation of economics to college classes is a task of no little difficulty. If lectures are depended upon exclusively, much time must be wasted in imparting information that could be acquired more quickly and more surely from the printed page. On the other hand, exclusive reliance on a text-book results in narrowness and dogmatism on the part of both teacher and student. A combination of the lecture and textbook methods offers a means of escape from these difficulties, but to make this satisfactory, a text-book especially designed for the purpose must be used. Such a book should contain not only the information needed, but a systematic exposition of economic principles, intended to introduce rather than to exhaust each topic considered. It need not be elementary because the lectures which supplement it may be relied upon to clear up difficulties. On the other hand, it ought to give some account of the development of economic theories and of the views of the writers who have contributed most to this development. In writing the following treatise, I have tried to keep these considerations constantly in mind. The principal feature which distinguishes it from other college text-books is its full treatment of the subject of distribution. This is the part of the study which is of greatest interest and importance; yet it is the part most neglected in current manuals. Experience as a teacher leads me to think that the difficulty of making the laws of distribution intelligible is exaggerated. Even if it were not, I should still consider a serious effort to instruct a class in these laws a most valuable exercise in economics. In the following pages I have tried to explain the productivity theory of distribution and have made free use of the writings of my honoured colleague, Professor Clark, who has contributed so much to an understanding of the subject. About the Publisher Forgotten Books publishes hu