I. Davenport's Economics is in the direct line of succession of the classical treatises on economics, 417. — II. The book essentially classical in scope and method, 419. — III. The chief departure from classical method in the greater significance ascribed to the entrepreneur, 422. — IV. Competing concepts of marginality: contradictions in Davenport's usage, 424. — V. Inadequacy of the concept of value as a mathematical ratio for the analysis of the problems of price and value of money, 430. — VI. Production identified with acquisition, 437. — Bearing of this amalgamation of concepts upon the problems of functional and personal distribution, 438. — VII. Social implications of Davenport's system of economic theory, 443.

Reasons for distinguishing in theory between the price policy of a temporary monopoly and that of a permanent monopoly, 384–389.—The current theory of monopoly price fails to make adequate allowance for the differences in monopolies, 389–390.—Rate of discount a factor in determining prices set by a permanent monopoly, 391.—Law of permanent monopoly price, 392.—Conditions affecting the rate of discount employed by the monopolist in fixing prices, 393–394.—Possible criticisms of the theory of permanent monopoly price, 394–397.—Practical consequences of the theory, 397–398.

Journal Article The Effect of Labor-Saving Devices upon Wages Get access Alvin S. Johnson Alvin S. Johnson Columbia University Search for other works by this author on: Oxford Academic Google Scholar The Quarterly Journal of Economics, Volume 20, Issue 1, November 1905, Pages 86–109, https://doi.org/10.2307/1882556 Published: 01 November 1905