Knowledge that Transforms

Henry Schultz, Roland S. Vaile; Elasticity of Demand and the Coefficient of Correlation, The Quarterly Journal of Economics, Volume 38, Issue 1, 1 November

Introduction: the trade agreement regarded as a constitution for industry. — I. The decisions of the arbitrator under the Rochester agreement limit both parties according to principles agreed upon in the "constitution, " 259. — II. A shifting balance of power, generally in favor of the workers, appears in decisions of the arbitrator on discharge and discipline of employers and union officials, 263. — On introduction of machinery, 269. — Lockouts and stoppages, 270. — Hiring and division of work, 271. — Quitting, 272. — Transfers and promotions, 273. — Abolition of home work, 273. — III. A public purpose is discoverable in the arbitrator's decisions, as regards progress of the industry, 275. — Stability of the market, 280. — Safeguarding of collective bargaining, 288. — IV. Conclusion: A code of law is being developed coexistent with, and similar to, the law expressed in public courts. Will the common law of the courts eventually absorb "industrial law"? 289.

Failures of State and National Banks in Oklahoma contrasted, 110. — State banks seemed to flourish during the war; many failures after 1920, 111. — Political complications, 114. — Repeal of the guaranty legislation, 117. — Situation in other States: Kansas, 121. — Nebraska, 124. — South Dakota, 127. — North Dakota, 128. — Mississippi, 129. — Washington, 130. — Texas, 131. — General arguments and conclusion, 134.

I. The Packers and Stockyard Act of 1921, 688. — Its constitutionality affirmed, 690. — II. The Future Trading Act of 1921, 693. — Held unconstitutional in 1922, 696. — The Grain Futures Act of 1922, 698. — Held constitutional, 700. — The outcome of these measures, 703.

I. Introductory. The established Australian systems: wages-boards and arbitration courts. — Justice Higgins's decision of 1907 the foundation for subsequent awards, 648. — Inadequacy of his data, 649. — Wage changes after 1914, 650. — II. New South Wales Maintenance of Children Bill of 1919, 652. — Proposes central fund and payments therefrom to mothers on a tapering sliding scale, 654. — Estimated Cost, 661. — The government's defeat leads to failure of the bill, 664. — Labor Ministry's bill of 1921, also not enacted, 664. — III. Report of the Australian Basic Wage Commission of 1919, 665. — Searching Inquiry on Cost of Living, 666. — Report in 1920, stating a basic family wage of £5 16s, 670. — The Report a bombshell; memoranda by Knibbs and Piddington, 671. — No action, except minor changes in wages of public employees, 677. — Piddington's pamphlet of 1921, 677. — Attititude of unionists, 679. — IV. More recent developments. Arbitration courts find they have no power to apply the Commsision's basic wage, 681. — Unionists and Labor Party drifting toward the maintenance-of-children principle, 683.

An attempt to find a method for forecasting price changes develops important theoretical conclusions. — The quantity theory of money furnishes a basis for an hypothesis (229), a test of which requires an index number of general price level, an index number of total circulating medium, and an index number of the normal value of V/T, 234. — The reciprocal of the latter is an index of the circulating medium necessary to maintain a constant price level, 239. — From the index number of circulating medium and the index number of the normal value of V is calculated an index number of normal price level, 000. — This index number compared with the index number of actual price level, 1890–1916, shows a good correlation with a lag apparently slightly less than one year, 242; which substantiates the original hypothesis, as applied to that period, 245. — The hypothesis, however, does not explain the price changes of 1917–20, 246. — Some related conclusions, 248.— Supplementary note, 252. — Appendix: Construction of the index number of circulating medium, 253.

I. Alleged danger of soil exhaustion. — Relation of this belief to the humus theory and the system of statics, 386. — Formulation of the mineral theory the work of Liebig, 387. — Discrepancies between his principles and the results of experimental work, 388. — Liebig's principles and the modern doctrine of soil exhaustion, 390. — II. Computations of the durability of average soils, 391. — Qualifications necessary to adapt these figures to the crop yields of low farming, 394. — The importance of the returns of nutritive substances made in low farming, 396. — III. Liebig's insistence upon complete replacement of the minerals removed in the crop, 399. — Recent concepts of the fertility program, 401. — Evidences of undiminished yields despite some progressive depletion of minerals, 403. — Presumptions created by recent studies of the soil solution, 404. — Declines in yield due to decreasing supplies of nitrogen, 406. — Replacement of nitrogen by natural processes, 407. — The need of lime on acid soils, 408. — Conclusions, 410.

Journal Article Income in the United States Get access Arthur L. Bowley Arthur L. Bowley Search for other works by this author on: Oxford Academic Google Scholar The Quarterly Journal of Economics, Volume 37, Issue 3, May 1923, Pages 510–517, https://doi.org/10.2307/1883852 Published: 01 May 1923

Weber's life, field of work, principal publications, 88. — His position on the method of social science, 90. — The “Ideal Type” and its methodological significance, 95. — Its bearing on the methods of economics, 98. — Weber as sociologist, 100. — Relation of sociology to other sciences, 103. — Conclusion, 106.

Varying rates of production at different stages of the economic processes and in different stages of the business cycle. — Sequence during depression, revival, and prosperity, 628. — Pecuniary and credit changes, 635. — Credit expansion and price advances not a cause but an index of the operating causes, 638.