And Very Often The Influence Exerted On

I Admit That These Terms And The Diagrams Connected With Them Repel Some Readers, And Fill Others With The Vain Imagination That They Have Mastered Difficult Economics Problems, When Really They Have Done Little More Than Learn The Language In Which Parts Of Those Problems Can Be Expressed, And The Machinery By Which They Can Be Handled. When The Actual Conditions Of Particular Problems Have Not Been Studied, Such Knowledge Is Little Better Than A Derrick For Sinking Oil-wells Erected Where There Are No Oil-bearing Strata.

The Commercial Storm Leaves Its Path Strewn With Ruin. When It Is Over There Is Calm, But A Dull, Heavy Calm.

Producer's Surplus Is A Convenient Name For The Genus Of Which The Rent Of Land Is The Leading Species.

It Is Common To Distinguish Necessaries, Comforts, And Luxuries; The First Class Including All Things Required To Meet Wants Which Must Be Satisfied, While The Latter Consist Of Things That Meet Wants Of A Less Urgent Character.

All Labour Is Directed Towards Producing Some Effect.