Knowledge that Transforms

Journal Article Schumpeter's Economic System Get access R. C. McCrea R. C. McCrea University of Pennsylvania Search for other works by this author on: Oxford Academic Google Scholar The Quarterly Journal of Economics, Volume 27, Issue 3, May 1913, Pages 520–529, https://doi.org/10.2307/1883376 Published: 01 May 1913

1. The marginal productivity theory, 630. — Complete analysis required, 632.—The impatience theory, 633.— Position here taken, 634.— 2. Marginal productivity of waiting keeps interest rate up by acting on demand for present goods, 635. — Action is direct and not merely through effect on impatience, 636. — Comparison emphasized is not between present and future goods, but between greater and less amount of future, 637. — Fisher's criticism of Böhm-Bawerk criticized, 638. — 3. Marginal productivity of waiting keeps interest rate up by acting on the supply of present goods, 640. — Increased marginal productivity of waiting means higher interest, 642. — Basis of capital valuation, 644. — Distinction between land and made capital, 644. — Rate of interest and rate of impatience in part joint effects of rate of productivity of waiting, 645. — 4. Marginal productivity of waiting by acting both on demand for and supply of present goods, keeps the rate of interest from exceeding this rate of productivity, 646. — As rates of impatience and interest are both influenced by productivity of waiting, so rates of interest and marginal productivity are both influenced by impatience, 648. — 5. Recapitulation, 649.

The significance and interest of this investigation, 236. — Scanty supply of materials, and difficulties in their collection, 237. — Stages of the boot and shoe industry outlined and limited, 239. — Illustration and characterization of these stages and their phases: (a) Home Stage, 239. — (b) Handicraft Stage, Phase 1, ordered or "bespoke" work, 240. — Phase 2, "bespoke" work plus some extra or "sale" work, 242. — (c) Domestic Stage, appearance of entrepreneur, 242. — Phase 1, domestic worker makes complete shoe, 245. — Phase 2, specialization in processes and rise of central shop, 248. — Phase 3, inventions to secure standardization and to economize time, 254. — (d) Factory Stage, Phase 1, more direct control and supervision with workers in factory, 257. — Phase 2, intensive production with discovery and use of by-products, and with centralization or absorption of allied industries, 261.

Direct grant one of many forms of state aid, 192. — Bounties on mulberry trees and silk, 193. — Hemp, flax, jute, and ramie, 197. — Woolen yarn, 199. — Binding twine, 199. — Starch, 199. — Iron and iron pipe, 199. — Cordage, 199. — Cards, 199. — Wheat and corn, 200. — Salt, 200. — Artesian wells, 201. — Timber and shade trees, 201. — Sugar, 202. — Chicory, 202. — Rewards on arms and powder, 203. — Sheep and woolen cloth, 203. — Canaigre and leather, 203. — Wheat, oats, and potatoes, 204. — Salt, 204. — Coal mine and artesian and oil wells, 204. — Methods of treatment of ores, 205. — Timber and shade trees, 205. — Sugar, 205. — The California reward act of 1862, 205. — The question of public policy and constitutionality, 206.

Journal Article A Compensated Dollar Get access The Quarterly Journal of Economics, Volume 27, Issue 2, February 1913, Pages 385–387, https://doi.org/10.2307/1881909 Published: 01 February 1913

I. The plan, rigidly adhered to, would bring long-run stability of prices, 402. — But temporary oscillations, of unpredictable extent, would continue, 403. — Causes of uncertainty in the connection between quantity of coin and prices, 403. — II. Adoption of the plan by international agreement seems impossible, 407. — Nor would a single country be likely to adopt it, 410. — III. It is uncertain whether and how far general prices will continue to rise, 412. — The general public is uneasy chiefly about the rise in food prices, 413. — Present evils not unendurable, and the scheme not practicable, 416.

Railway Rates and Joint Cost Once More F. W. Taussig F. W. Taussig Harvard University Search for other works by this author on: Oxford Academic Google Scholar The Quarterly Journal of Economics, Volume 27, Issue 2, February 1913, Pages 378–384, https://doi.org/10.2307/1881908 Published: 01 February 1913

The current theory of value fails to take account of inequality, 547. — Value as a “ratio in exchange” to be qualified, 549. — Utility as the ultimate standard of value, 552. — Disutility as the ultimate standard; labor, 557. — The sacrifices of capitalists, 560. — The valuation of services, 462. — Non-competing groups, 569. — Conclusion: The ultimate standard of value does not exist in a modern society, 575.

I. Introductory. The German monopoly of natural resources, 140. — The different salts, 142. — Output and exports, 143. — II. Early agreements, 145. — The first syndicate (1888), 148. — III. The second and third syndicates (1898–1904), 151. — IV. The syndicate of 1904–09, 153. — 0rganization as a stock company; form of management, 156. — Increase in number of mines and difficult allocation of quotas, 158. — The Sollstedt mine and American purchasers, 160. — Continued increase in facilities, 164. — V. Negotiations for renewal, 1908–10, 168. — Failure in 1909, 174. — Contracts by independents with Americans, 175. — Law of 1910, giving imperial control over production and prices, 177. — Syndicate renewed in 1910, 179. — VI. The Potash Controversy between Germany and the United States, 179. — Terms of settlement, 181. — VII. Working of the Potash law of 1910, 182. — No check to increase of mines, 183. — VIII. Conclusion, 186.

First suggestion of tabular standard erroneously credited to theorists, 417. — Found earlier in Massachusetts history, 419. — In an act of 1747, closing the struggle to adjust depreciated bills of credit, 425. — New movement starts in the Revolutionary period, 427. — Depreciation of bills and rise of prices distress soldiers, 430. — Failing to fix prices, States raises pay, 432. — Finally pay is raised in close conformity to computed rise of prices, 435. — A tabular standard printed on notes, 1780, 437. — The determination of the table, 439. — Imperfect administration, 441. — Scant returns of official prices, 443. — Notes refunded and law repealed, 446. — Adoption of table in other relations, 448. — Comment, 449. Appendix I, Table of Depreciation, 452; II, President Langdon's Account, 454; III, Fac-simile of a Note, 455.