I. The problem, 539. — II. The utilization of productive resources in a static equilibrium economy: (1) The formal theory of prices and price-margins in an equilibrium economy, 542; (2) Static equilibrium and continuity, 545; (3) The meaning of “full utilization” in a static equilibrium economy, 547. — III. The determinants of margins in a static equilibrium economy: (1) The limiting power of the strategic factor, 550; (2) Real costs as determinant of margins of utilization, 552; (3) Institutional limitations on the utilization of resources, 554; (4) The monetary supply as the limiting factor, 556. — IV. The expansion of production without increase of the supply of money: (1) Through saving of monetary income, 558; (2) Through technological improvement, 560. — V. Expansion of production with increase in the monetary supply, 561. — Overcoming inflated price-resistances, 562. — Effect of reduction in the interest rate, 564. — Conclusion, 564.

The work of Pearl and Reed, 558 — Their postulates, 559. — The logistic formula, 561. — The question of closeness of fit of the formula to the observed data, 562. — The applications of a mathematical formula of growth, 564. — Intercensal interpolation, 564. — Prediction of future growth, 566. — Malthus, 568. — Elkanah Watson, 569. — Department of Agriculture experts, 570. — Pritchett, 571. — Critique of Pearl's assumptions and of his formula as a predictive device, 573. — Cultural influences and cycles of growth, 577. — Empirical versus rational laws, 579. — The use and abuse of analogy, 582. — The analogy between the growth of an individual and that of an aggregate, 583. — Relation of changing birth rates, death rates, and age constitution to the shape of the growth curve, 586. — The Algerian population, 587. — Inconclusiveness of Pearl's analysis, 589. — Further analogy — correlation of population growth with density, 590. — Doubtful value of the logistic formula, 593.

“Superest Ager” Get access A. B. Wolfe A. B. Wolfe Ohio State University Search for other works by this author on: Oxford Academic Google Scholar The Quarterly Journal of Economics, Volume 40, Issue 1, November 1925, Pages 172–175, https://doi.org/10.2307/1885821 Published: 01 November 1925

Current tendencies in the study of cost theory, 41.—The indeterminate meaning of "market" and "competition" in economic literature, 47.—Discontinuity of retail markets; the fallacy in comparing the costs of firms serving different markets, 51.—"Marginal" buyers not effective in stimulating significant inter-market competition, 53.—The question of competition between wholesalers of clothing and of store equipment, 57.—"Competitive" costs in the great staple industries, 58. — Low costs and high profits not necessarily due to superior entrepreneural ability; devices for avoiding competition; advantages of priority; temporary and permanent advantages, 61.—Does competition compete? Why does not competition result either in uniform costs or in monopoly? 65.—Need of caution in inductive study, 66.—Need of study of the life histories of individual firms, 67.—Rent of superior entrepreneural ability inconsistent with the assumption of free price competition, 69.

I. The Problem: Is interest determined by use (demand) or by a cost of saving? — Savers' surplus, 3. — Its discussion by economists, 4. — II. The sources of savings, 10. — Analysis of income distribution in United States, 11. — Dominant savings by the rich, 14. — III. The psychology of saving, 17. — The poor, 18. — The middle classes, 19. — The wealthy, 21. — Automatic costless savings, 23. — The marginal analysis inapplicable, 24. — IV. Corporate surpluses and bank-credit loan funds, their great amounts, 27. — How far costless, 28. — Bank credit loan funds, 29. — Conclusion, 31.