Knowledge that Transforms

I. The “alternative use” idea, 119. — A value or price notion, 120. — Assumes distinct land-use groups and margins, 121. — II. Its alternative-utility aspect, 121. — Not significant as a long-time factor, 122. — Limited significance as a short-time factor, 123. — Classification of land utilities, 124. — III. The alternative-supply aspect, 126. — Limitations, general and particular, 126. — Costs, 127. — Return to value view-point and net utility, 128. — Effect of unequal wealth distribution, 129. — IV. The relation of “alternative uses” to rent, 130. — Not causal or determinative, 130. — Some practical considerations, 131. — V. Mill's treatment of “scarcity value” and rent, 132. — Overlooks the significance of the intensive margin, 135. — Loose use of terms, 137.

Journal Article The British Minimum Wages Act of 1909 Get access A. N. Holcombe A. N. Holcombe Harvard University Search for other works by this author on: Oxford Academic Google Scholar The Quarterly Journal of Economics, Volume 24, Issue 3, May 1910, Pages 574–577, https://doi.org/10.2307/1885215 Published: 01 May 1910

Manner and extent of supervision largely gauged by the character of the government, 471. — Accounting methods of the German railroads, 472. — Defects, 473. — Policy of the British government, 474. — Published statistics give little information in regard to operating costs of the net return on capital investment, 477. — Prescribed accounts fall into two groups, those relating to Capital and those relating to Revenue, 479. — Objections to the "Double Account, " 480. — Form of the general balance sheet unsatisfactory, 482. — Chief defect in British accounting methods that they fail to distinguish properly between capital and revenue expenditure, 485. — Railroad policy of France, 489. — Close financial bonds existing between railroads and government, 490. — Prescribed accounts, 490. — Auditing commission, 496.—Preventive control exercised by consultative committee, 497.

The influence of America on English Agriculture, 499. — The Small Holdings Act of 1908, 501. — The application in the County of Cambridgeshire, 502. — Difficulties and achievements, 503. — The experiment at the Tile House Farm, Soham, 504. — Partial adoption of co-operation, 505. — Varying success of agricultural co-operation in England and on the Continent of Europe, 506. — Problems of co-operative sale, 509. — Conclusions, 513.

The principle of the single tax not to be questioned, 279. — The method of taxation an unfortunate device, 281. — The illusiveness of the ad valorem method, 286. — English Budget proposals, 287. — Grounds for expecting no serious results from them, 288.

I. Rapid growth of banking under state laws, 202. — The prohibition of real estate loans diminishes the profits of national banks and their power to serve the community, 204. — The large amount of funds employed away from home by the banks is a serious element of weakness in our credit system, 206. — The segregation of savings deposits with power to invest them in mortgage loans would reduce the congestion of credit in New York, 210. — II. The uselessness of reserves with agents in past crises, 217. — The strain on New York has been too severe, 219. — Proposal to substitute for the present system two classes of banks, local banks and reserve agents, 223. — The latter to be established anywhere but in all cases to hold a cash reserve of 25 per cent., 224. — The cash reserves of local banks to be increased to 10 per cent., the money released by the conversion of demand into savings deposits providing the means, 227. — III. Failure to use reserves in crises, 229. — Largely due to the use of clearing house loan certificates without their original complement of a provision for equalizing reserves, 231. — Summary account of the effects of their issue on successive occasions, 236. — Equalization not unfair to any bank and should be required by law when they are issued, 240.

New Zealand not prosperous from 1879 to 1895. Conditions under which the arbitration act was passed in 1894. Mr. Reeves its author, 661. — Increase of associations and unions, 669. — Conciliation expected to be sufficient, but compulsory arbitration in fact resorted to, 672. — "Contract superseded by status, " 673. — Agricultural laborers not affected, 675. — Minimum wages and their influence on efficiency, 678. — Preference to unionists, 679. — "Fair wages" and the "living wage, " 683. — Rigidity of wages, and the inefficient employer, 686. — Uncertain whether workers' welfare has been in fact advanced, 687. — Influence on manufacturers and on cost of production; other factors affecting them, 689. — Opinion of employers and workmen, 692. — Amendment act of 1908 due to dissatisfaction among laborers, 693. — Strikes in 1906–1908, 695. — Peculiar case among miners, 697, and in the state collieries, 701. — Provisions of the amendment act of 1908, 704. — Voluntary arbitration again sought to be encouraged, 706. — Workers may evade the act altogether by the device of cancelling registration, 707. — Its future still uncertain.

The Constitutional Crisis of 1909–10. Comparison with Crises of 1832, 1846, 1884–5, and 1886, 244. — Popular political education through the platform and the press, 245. — Liberal and Tory Press in 1909–10, 247. — Platform Propaganda in 1909, and in previous crises, 248. — Class bitterness in the Budget struggle, due in first place to action of the peers in attacking the Budget. Letters and speeches of peers, 253. — Unfair assessment of mansions of aristocracy for local rates, 257. — Peers' desire for protective duties, 258. — Propaganda of political leagues, 259. — Chamberlain's share in the struggle, 260. — Reasons for the Lords' rejection of the Budget, 262. — Chamberlain's appeal to the Lords to reject it. Contrast between his attitude in 1884 and in 1909, 264. — Methods of propaganda in constituencies and results in education of people, 266. — Agreement of Liberals and Tories on need of new expenditure. No opposition to old age pensions or Dreadnoughts, 268. — The taxation proposals, 269. — Motor car and petrol duties, 269. — Tax on urban undeveloped land and on unearned increment, 270. — Attitude of municipalities to these taxes, 272. — Tax on renewals of leases of building sites, 273. — Ground landlords of London and site values, 274. — Tax on mining royalties and way leaves, 275. — Tax on monopoly value of liquor licenses.

A central bank with large lending power will not fit into our system, 71. — And it is not necessary, 74. — Its primary functions: (a) The settlement of clearing house balances, 77. — (b) To ensure the use by the other banks of their resources in emergencies, 79. — (c) Handling the domestic exchanges, 81. — The clearing of country checks, 84. — Method of selecting the directorate, 86. — Prohibition of collateral loans, 87. — The bank acceptance an unnecessary and hazardous device, 88. — Capital of the central bank, 89. — Note issue, 90. — Retirement of the gold certificate and the U. S. note, 91. — Statement of account of the proposed bank at the opening of business, 92.