Economic Tangles

Economic Tangles

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Excerpt from Economic Tangles: Industrial Problems Explained Through Lessons Drawn From Passing Events

Economics have so close a relation to continuous prosperity that employers and employed are equally interested in comprehending the laws governing the production and distribution of wealth. These are not difficult to understand. Like the figures in the multiplication table there is a certain relation between land, labor, capital and wealth, and once the student learns the value of each of these elements in the world of industry, he is able to grapple with seemingly inextricable problems which might otherwise lead him astray. There are many byways in economics, however, which look at times so broad and substantial, and are trodden by so vast a multitude, that the wisest are apt to be misled into taking the false for the true. Still, when the real value and dependence of each of the factors in trade and commerce are once realized, it is not so very hard to differentiate the thoroughfares that lead to the equitable distribution among wealth producers of their products, from those that tend to concentration and unjust apportionment.

Passing events in the knowledge of general readers of daily papers have in the main been the basis of the articles appearing under my name in the News-Tribune, and which with other material are reproduced in this volume. They do not profess to be either profound or exhaustive, for other duties, as well as space, have prevented any minute discussion, even had it been advisable.

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