Knowledge that Transforms

Testimony before the Interstate Commerce Commission, 539. — "Scientific Management" to save railroads a million dollars a day, 539. — What is "Scientific Management?" — Its success in manufacturing establishments, 544. — Practically untried in railroad operation, 545. — Santa Fe experiments inconclusive, 546. — Differences between manufactories and railroads in extensive range of action (549). — Character of public service (550), and labor union influence, 553. — Progress of railroads in economical operation, 556. — Further progress possible by a more general adoption of best methods of best railroads, 559. — Difference between Scientific Management as a system and the best railroad methods not one in kind but in degree, 560.

Journal Article The Publications of the National Monetary Commission Get access Wesley C. Mitchell Wesley C. Mitchell University of California Search for other works by this author on: Oxford Academic Google Scholar The Quarterly Journal of Economics, Volume 25, Issue 3, May 1911, Pages 563–593, https://doi.org/10.2307/1883616 Published: 01 May 1911

I. Requirements for success: cheap spruce and cheap water power, 652. — Peculiarity of market for news paper, 654. — II. Combination in the industry, 656. — Business policy of the "trust, " 657. — III. The Tariff, 660. — Prohibition of exports of wood from Canadian provinces, 662. — Provisions of the Act of 1909, 664. — Importation of the pulps, 664. — The Conference Committee's insertion of a significant phrase, 665. — Importance of freight charges on pulp wood, 667. — Labor conditions in Canada and the United States, 671. — IV. Conservation, 673. — Methods of cutting timber, 674. — Analysis of causes leading to devastation, 675. — V. Conclusions as to the Tariff, 678.— American mills owning favorably situated woodland receive a rent, 679. — Probability of gradual extermination of inefficient and disadvantageously located mills, 681.

“Exchange value” compared with the abstractions of physical science, 410. — Subordination of price to value in economic theory, 413. — A general medium of exchange implicit in the theory of exchange value, 416. — Value as imputed price, 419. — Methods of imputation, 421. — Imputation of value extended to goods not priced in the market, 423. — The value of a stock depends on the size and nature of the units chosen, 425. — Meaning of “national wealth,” 427.

Doctrinal supremacy of Wealth of Nations from 1776 to 1810, 430. — Theory of money alone underwent notable change during this period, 431. — Defect in Adam Smith's theory, 436. — The Bank Restriction of 1797, 441. — The writings and influence of Boyd, Thornton, King, Parnell, Foster, and Wheatley, 444. — The service of Ricardo, 468.