Aim and method of the present inquiry, 557. — The two fundamental problems, 558. — Prices should be treated as ratios, . 559. — When so treated the paradox of the arithmetic and harmonic means is resolved, 559. — Ratios are not fractional quantities, 561. — The completely weighted arithmetic mean is a ratio of aggregates, 563. — Geometrical representation of the price level, 563. — The method of least squares, 566. — The method of summation, 568. — Changes of the general price level, 568. — Effect of changes of the relative importance of trade in different types of commodities, 571. — Substitution of "dollar's worths" for physical units, 571. — Fisher's index number, 572. — Conclusion, 573.

I. The need of reform in the government of Great Britain. II. The Webbs' novel plan, 434. — The Political and Social Parliaments, 438. — Revival of the separation of powers, 440. — III. A new system of checks and balances; its defects, 441. — IV. The “bureaucratization” of politics, 447; the dictatorship of the “Intellectuals,” 451. — Analogies in the Sankey and Plumb plans, 454. — V. The collapse of capitalism, 456; Fabianism vs. Communism, 459.

Nature of the study, 84. — Underlying assumptions of the study, 86. — I. Previous earnings of the representative consolidation compared with actual earnings, 90. — II. Estimated earnings of the representative consolidation compared with actual earnings, 91. — III. First-year earnings of the representative consolidation compared with later earnings, 93. — Table of fundamental data, 95.

Journal Article Liefmann's Grundsätze der Volkswirtschaftslehre Get access G. A. Kleene G. A. Kleene Trinity College, Hartford, Conn. Search for other works by this author on: Oxford Academic Google Scholar The Quarterly Journal of Economics, Volume 35, Issue 3, May 1921, Pages 461–468, https://doi.org/10.2307/1884096 Published: 01 May 1921

With the increased attention which is being given by universities to the training of students for business there has come an increased interest among both college authorities and employers in the problem of adjusting the inexperienced graduates of the schools of commerce to the practical affairs of business. College teachers and administrators understand fully that their graduates are not qualified to assume at once the duties of responsible business executives. They know that every man must pass through an apprenticeship in order to acquire an intimate personal knowledge of general business practices, to develop sound judgment or business sense, to gain skill in dealing with men, and to learn, in addition, the technique of the particular industry or occupation with which he is to be connected. It is their belief, however, that the period of such an apprenticeship will be materially shortened by the training which the college graduate has received and that ultimately he will have a broader view of business because of the foundation which he has laid in college. Business men are coming to have a more considerate attitude toward the college man, not because of his immediate usefulness but because of his potential value. They are realizing, also, that any growing industrial or financial concern which requires a large