Excerpt from The Standard of Life and Other Studies
Nearly every one to-day is interested in questions of social welfare, and more especially in industrial questions. But for those who have not had a preliminary training in economics it is sometimes difficult to follow the course of events in the industrial world, and to understand the explanations offered of those events. I have therefore attempted in the first of these studies to bring together in a simple form some of the more fundamental economic ideas, and to show their application in the questions which come before us day by day. More especially I have wished to emphasize the importance, and to explain the actual working of the Standard of Life as the basis of economic progress.
The subsequent studies arc of a more detailed character, and are offered as a small contribution towards the research for which such a large field lies open to the student of social phenomena. I believe that even such detached studies, if faithfully made, may be of use in promoting a better understanding of the conditions under which we live.
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