The meaning of monopoly, 271. — The problem of measurement, 272. — Theoretical excess profits as indicators of monopoly, 273. — The problem of defining the rate of excess profit, 275. — Definition of the rate for a short fiscal period, 277. — The quantity of assets which a competitive firm will hold, 281. — The relation of the accounting to the theoretical rate of profit, 289. — The accounting profit rate as a measure of monopoly power, 291.

No scientific theory of economic dynamics exists, 1. — The basic concepts and postulates of contemporary economic theory, 3. — The method of constructing and verifying traditional economic theory, 6. — Theoretical dynamics of Newtonian mechanics, 8. — Economics compared with physics, 10. — Bearing of this upon the possibility of a theoretical economic dynamics, 12. — The precise capacity of contemporary economic theory, 13. — Diagrammatical summary, 16.

I. Introduction: federal unions and customs unions, 49. — II. Long-run economic consequences, 51. — Revenue tariff, 54. — Moderate protection, 61. — Extreme protection, 64. — Tentative conclusions: conditions making for economic gain by country granting preferential tariff reductions, 66; economic benefits may be reduced or cancelled by policy of self-sufficiency, 70. — III. Transitional economic problems: Streit's proposal, 71; Meade's suggestions, 74; Salter's plan, 75; regional groups, 76; formula to assure permanent gain, 79. — IV. The most-favored nation clause, 80. — V. The tariff authority, 88. — VI. Conclusions, 91.