Practical Economics (Classic Reprint)

Excerpt from Practical Economics<br><br>The rise and rapid spread of business education which has been such a prominent feature of our modern educational system has not only resulted in a call for courses dealing with particular fields of business activity, as accounting, banking and selling, but has considerably augmented the demand for a knowledge of the general theory of business as treated in the science of economics.<br><br>From long association with business men as well as from the teaching and discussion of economics with students drawn largely from the ranks of practical men of affairs, I have been impressed with the insistent demand for a simpler and more concrete statement of economic theory than is usually found in the standard works.<br><br>To satisfy this demand the present book has been prepared.<br><br>No attempt has been made to depart radically from standard economic theory. The aim has rather been to state in simple language and to explain as concisely as possible, the general laws and principles underlying and governing the production and distribution of wealth in the United States today, for the benefit of all who desire to gain a clearer understanding of the structure of our economic system and of the forces operating within it. In consideration of the increasingly important part played in modern affairs by business organization, more attention has been devoted to it than has been customary; and it is treated as a separate factor in production along with land, labor and capital.<br><br>While of course economics is concerned with the theory of business and its peculiar function is to set forth the operation of those broad and fundamental laws governing business as a whole, special pains have been taken to point out their practical consequences in everyday business life. In other words, the connection between theory and practice has been kept constantly in view and wherever possible the practical application of laws has been pointed out by illustrations drawn from modern business practice.<br><br>About the Publisher<br><br>Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com<br><br>This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.