320

INDEX

Import duties, 204-206, 249, 307.
ww 3s reduce efficiency of
. national effort, 206.
Imports, paid for by exports, 202, 211,
215.
5» valuation of, 201.
Improvements, exhaustion of, 103, 107.
~ in production, effect of, on
foreign trade, 213.
Incidence of taxation, 281-292.
Incidental protection, 266.
Income, 17, 139, 140.
»» as measure of taxation, 275.
Inconvertible notes, 182, 183, 232,
240.
Increase of demand, 30, 209.
Increasing costs, 47, 54, 291, 308, 309.
“ returns, 48, 54, 121, 122,
208, 209.
Indebtedness, mutual, of trading
countries, 216,
Indestructible powers of the soil, 107.
[ndeterminateness of bargain, 33-35,
135, 307.
Indian exchange-rates, 241.
Indigent poor, relief of, 276, 286.
Indirect processes of production, 89.
Individual product, 123.
Industrial partnership, 147.
»” policy, 266.
Infant industry, 254-262.
Infectious disease, precaution against,
270.
Inflation of prices, 191.
Insane, 268.
Insolvency, 155, 184.
Instrumental goods, 86.
Intelligent action assumed in economic
arguments, I5.
Intensive cultivation, 99, 110, 115.
Interchangeable units of capital, 91, 97.
’s »»  labour,119-123.
Interest, 84-86.
and prices, IT1.
causes of fall in rate of, 93.
gross and net, 91, 92.
taxes on, 283, 288.
the future of, go, g6.
the gree of control of capital,
88.
Interference by government, 137, 267.
International trade, 38, 199-214.
Invention, 89, 122.
[nvestment, 82, 83, 91, 157.
» demand for bills, 239.
[ron law of wages, 133.
[redeemable paper currency, 182, 183.
233, 240.
[ssue, limitation of, 183.

JEVONS, 176.
Toint demand, 67, 68.
ss products, 65-67, 72-75, 315, 316.
ss stock enterprise, 151, 156.
LABOUR, demand for, 118-124.
marginal productivity of, 120-123.

mobility of, 126-128.
net product of, 119-123.
»» supply of, 124-134.
Land, compared with capital, 18, 98.
;» its relation to production, 98.
»  -tax, 282, 283,
ss -values, 114, 115.
Large and small farms, 1135.
large-scale production, economy of,
208, 254.
Laws, 13.
~eadership in industry, 152.
.earners, wages of, 137.
eases, agricultural, 108,
ys of houses, 290,
Legal tender, 175, 194.
Legislation, factory, 268, 269.
Level of prices, general, 170, 240.
“iberty of contract, 268.
Limitation of supply, 42-47.
Limited liability, 184.
»» legal tender, 196.
Limits of government action, 273.
Loans, international, 218-220.
s» public, 292, 293.
Local markets for capital, 92.
London Bankers’ clearing house, 168.
ss a settling centre for international
 payments, 242.
Long-dated bills, 238.
Long-period investment, 91.
Lump of labour doctrine. 140.

ye

MARGINAL cost of government services,
274, 279.
demand-price, 22.
desire, 22.
expenses, 47, 51, 313.
output, 108,
productivity, 314.
» of capital, 283.
of labour, 121,
132.
utility, 22, 51, 199,
,» of capital, &amp;1, 97.
»» of disposable resources,
 278,
of government services,
 278.
vy ,»» of labour, 135.
Market, 35.