The Trend of Economics

Adam Smith Agassiz Alfred Marshall analysis applied assumption behavior business cycle capital cause common competition conception conclusions conscious consumers coöperation cost demand desire differential advantage distribution earnings Econ economic theory economists effect efficiency enterprise ethical fact factors field hedonism human important incentives income increase individual induction industry institutions integral interest involved John Stuart Mill knowledge labor laissez-faire laws less limited logical marginal marginal productivity marginal utility means measure method Michael Faraday motives nature nomic objective opportunity cost organization pecuniary perfect competition phenomena physical Political Economy possible practical prediction present principle probability problem production profits psychology pure quantitative question reason regulation relations Ricardo scientific social society standard statistical supply things tion true truth utility value theory Veblen wages wealth welfare welfare economics workers