The theory of industrial location, 254.— Preliminary deductions in the case of the shoe industry, 255.— History of the distribution of the industry. Period 1630–1760: non-localized hand work, 257.— Period 1760–1860: localization of the hand industry, relation of railroads to factors of transportation and labor cost, 259.— Period 1860–1900: effect of mechanization, shifts in the tanning industry, changes in financing; equalization of regional advantages, 264.— Period since 1900: rapid style changes, foreign markets, labor organization, 269.— Outlook for the future, 273.— The theory in the light of experience in the shoe industry, 274.

I. Marginal productivity ignores important forms of investment, 627; and is inaccurate even for "productive" investment, 628.— The "law" of diminishing productivity vague and subject to serious exceptions, 630.— Marshall's doctrine of marginal net product does not explain general wages, 631; but throws light on the process of equilibrium-seeking, 632.— The application of labor to land, 633.— II. "Demand for labor" a misleading expression, 634.— Factors which determine it, 635.— The "method of increments" not involved, 638.— In what sense wages are residual, 639.— III. Practical implications: for changes in working hours, 640; consumer borrowing, 641; raising of wages above equilibrium rate, 642; elasticity of demand for labor, 643.

Reviews the book "Want and Plenty," by Jacob H. Hollander.

Reviews the book "A Survey of a Retail Trade Area," by Fred M. Jones.

Reviews the book "The New York Money Market ," vol. 1, "Origin and Development," by Margaret G. Myers, vol. 2, "Sources and Movements of Funds," by Benjamin Haggott Beckhart and James G. Smith, vol. 3, "Uses of Funds," by Benjamin Haggott Beckhart and vol. 4, "External and Internal Relations," by Benjamin Haggott Beckhart, James G. Smith and William Adams Brown.

Reviews the book "American Business Leaders," by F.W. Taussig and C.S. Joslyn.

Reviews the book "The Banking Situation in the United States."

Reviews the book "Quelques documents et quelques ouvrages français antérieurs au règne de Louis XIII, ayant trait à la morale, à la doctrine et à la comptabilité commerciales," by Albert Dupont.

Reviews the book "Prices," by George F. Warren and Frank A. Pearson.

Reviews the book "Credit Policies of the Federal Reserve System," by Charles O. Hardy.