Excerpt from The Economics of Progress
These lectures were delivered in October-December, 1917, to the Political and Economic Circle of the National Liberal Club. They are printed mainly as given, but with some compressions, a few improvements of statement, some little annotation, some postscripts, and the inclusion of some passages omitted in delivery.
Their usefulness, I conceive, might have been increased by more systematic annotation from economic literature; but other pressing occupations make that impossible. Since, further, they make no pretension to constitute a systematic economic treatise, but aim only at a partial practical application of economic ideas to the great problem of "reconstruction," a larger array of authorities might suggest a much higher estimate of their lasting utility than I put upon them.
If they are at any point much outside of economic "orthodoxy," it is in their treatment of the scientific conception of Capital.
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