The Quarterly Journal of Economics, Volume 36
Charles Franklin Dunbar, Frank William Taussig, Abbott Payson Usher, Alvin Harvey Hansen, William Leonard Crum, Edward Chamberlin, Arthur Eli Monroe
Harvard University, 1922
Edited at Harvard University's Department of Economics, this journal covers all aspects of the field -- from the journal's traditional emphasis on microtheory, to both empirical and theoretical macroeconomics.
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actual agricultural American amount appears average banks basis British capital cause cent charges Class coal commodities compared competition considerable cost course cycle demand determined discussion domestic earnings economic effect England Europe exchange existence export fact factors fall federal figures forces foreign Germany given gold greater higher imports income increase industry interest labor land less loans lower manufacture material matter means ment method mines months movement nature necessary noted operation organization owner payment period plant possible practically present probably problem production Professor profit question railroad reason relation relative rent Report reserve result rise roads royalty situation social standard supply tend theory tion trade United valuation wages whole wool yield York
Page 83 - In the social production which men carry on they enter into definite relations that are indispensable and independent of their will; these relations of production correspond to a definite stage of development of their material powers of production. The sum total of these relations of production constitutes the economic structure of society — the real foundation on which...
Page 468 - And I gave my heart to know wisdom, and to know madness and folly: I perceived that this also is vexation of spirit. For in much wisdom is much grief: and he that increaseth knowledge increaseth sorrow.
Page 78 - The discovery of America, the rounding of the Cape, opened up fresh ground for the rising bourgeoisie. The East-Indian and Chinese markets, the colonization of America, trade with the colonies, the increase in the means of exchange and in commodities generally, gave to commerce, to navigation, to industry, an impulse never before known, and thereby, to the revolutionary element in the tottering feudal society, a rapid development.
Page 74 - The mode of production in material life determines the general character of the social, political, and spiritual processes of life. It is not the consciousness of men that determines their existence, but, on the contrary, their social existence determines their consciousness.
Page 76 - From this point of view the final causes of all social changes and political revolutions are to be sought, not in men's brains, not in man's better insight into eternal truth and justice, but in changes in the modes of production and exchange. They are to be sought not in the philosophy, but in the economics of each particular epoch.
Page 78 - America , trade with the colonies, the increase in the means of exchange and in commodities generally, gave to commerce, to navigation, to industry, an impulse never before known, and thereby, to the revolutionary element in the tottering feudal society, a rapid development. The feudal system of industry...
Page 76 - From this it also follows that the means of getting rid of the incongruities that have been brought to light must also be present, in a more or less developed condition, within the changed modes of production themselves. These means are not to be invented by deduction from fundamental principles, but are to be discovered in the stubborn facts of the existing system of production.
Page 76 - In every historical epoch, the prevailing mode of economic production and exchange, and the social organization necessarily following from it, form the basis upon which is built up, and from which alone can be explained, the political and intellectual history of that epoch; that consequently the whole history of mankind . . . has been a history of class struggles, contests between exploiting and exploited, ruling and oppressed classes...
Page 78 - Meantime the markets kept ever growing, the demand ever rising. Even manufacture no longer sufficed. Thereupon, steam and machinery revolutionized industrial production. The place of manufacture was taken by the giant, Modern Industry, the place of the industrial middle class, by industrial millionaires, the leaders of whole industrial armies, the modern bourgeois.
Page 75 - Man makes his own history, but he does not make it out of the whole cloth; he does not make it out of conditions chosen by himself, but out of such as he finds close at hand.