Introduction, 289. — I. Industrial-urban development, 1900–1950, 293. — II. Population developments, 1900–1950, 300. — III. Conclusions, 314. <qd> A house without a man in charge Stays neat with pride But the frying pans are all too large And the bed too wide. — Barbara Ann Warren </qd>

Introduction: importance of recognizing the relative nature of "truth, " 1. — I. Historical interrelationships between economic thought concerning competition and the social environment, 3. — II. Emergence of theories of imperfect (or monopolistic) competition, 8. — Danger that these may also present a distorted picture of reality, 9. — Their relation to empirical investigation, 10. — Other limitations on their direct usefulness, 12. — The nature of "scientific method, " 12. — III. Relation of the new theories to public policy toward business, 14. — Need for humility, 16. — IV. Impact of this aspect of theory upon the social environment, 18. — The New Deal, 18. — Danger in short-run political expediency, 21. — V. Conclusions, 22.

When by the improvement and cultivation of land... the labour of half the society becomes sufficient to provide food for the whole, the other half... can be employed... in satisfying the other wants and fancies of mankind.