The Trend of Economics

Adam Smith Agassiz Amer American Economic Association analysis applied assumption behavior business cycle capital cause Columbia University competition conception conclusions consciousness consumers coöperation cost deductive demand desire differential advantage distribution Econ economic theory economists effect efficiency ethical experimental economics fact factors field forces functional hedonism human important incentives income increase individual inductive industry institutions interest Jour knowledge labor laws less limited logical marginal utility marginalists means measure ment method modern motives natural law nature nomic objective opportunity cost organization output pecuniary perfect competition phenomena Political Economy possible practical present principles probability problems profits psychology quantitative question reason regulation relations scientific scientists social society standard statistical supply theorists things tion true truth University utility value theory wages wealth welfare welfare economics workers