25. Capitalization and Interest

CHAPTER 25

CAPITALIZATION AND INTEREST

§1. Interest subsequent to time-price. §2. Origin and definition of the term interest. §3. Interest versus income, or gross versus net interest. §4. Concealed rate of interest. §S. Commercial paper. §6. Mercantile cash discounts. §7. Long time loans. §8. Special markets for money loans. §0. Capitalization, the clue to the general interest rate. §10. Time-series of incomes, monetary and non monetary. §11. Present dollars and what they can buy. §12. Blending of the investment premiums into a common rate. §13.

Part V. Enterprise and Profit

PART V ENTERPRISE AND PROFIT

26. Enterprise

CHAPTER 26

ENTERPRISE

§1. Factors of production must be combined. §2. Non-contractual and contractual incomes. §3. From small shop to large factory. §4. The residual share. §5. The typical owner-manager. §6. Empirical methods of estimating and apportioning the residual share. §7. Utmost possible degree of separation of investment and management. §8. Corporations and their control. §9. Single investment function of minority stockholders.

27. Management

CHAPTER 27

MANAGEMENT

§1. The function of management. §2. Direction of simple and interrelated groups. §3. Selection of managed and of managers. §4. Division of labor in management. §5. A large commercial policy. §6. Obtaining of capital. §7. Profit-seeking borrowers and the rate of interest. §8. Buying materials and labor. §9. Various policies to upbuild the personnel. §10. Management of technical processes. §11. Management of men. §12. The right proportioning of the factors. §13. Adjustment of production to changing conditions.

28. Profits and Costs

CHAPTER 28

PROFITS AND COSTS

§1. The broader meaning of profits. §2. Conception of pure profits. §3. Dual character of investment profit. §4. Enterprise and risk. §5. Pure profit the most variable income. §6. Meanings, of cost. §7. Superficial view of costs and prices. §8. Costs adjusted to prices of products. §9. A single factor of a single product. §10. The genealogy of value. §11. Money cost derived from price of products. §12. Cost an expression of consumers’ estimates. Notes On other meanings of profit and The source and cause of profits.

29. Various Shades of Profits

CHAPTER 29

VARIOUS SHADES OF PROFITS

§1. Review of the profit-concept. §2. Skill in relation to risk. §3. Union of chance and choice. §4. Element of pure chance. §5. Changes in transportation and in land-values. §6. The so-called unearned increment. §7. Element of speculation in business. §8. Specialization of risk-taking, in produce markets. §9. Produce speculators as insurers. §10. Ignorant and dishonest speculation. §11. Fraudulent and illicit profits.

30. Costs and Competitive Prices

CHAPTER 30

COSTS AND COMPETITIVE PRICES

§1. Competitive prices and unequal costs of competition. §2. Selling and cost-finding. §3. Examples of joint costs. §4. Main classes of costs. §5. The problem of cost accounting. §6. Homogeneous products with unequal costs. §7. Principle of charging what the traffic will bear. §8. How prices are limited under competition. §9. Borderland of monopoly. §10. Difficulty of departing from average costs in competition.

31. Monopoly-Prices; Large Production

CHAPTER 31

MONOPOLY-PRICES; LARGE PRODUCTION

§1. Tests of monopoly control. §2. Uniform monopoly-price in relation to costs. §3. General principle of uniform monopoly-price and cost. §4. Temporary and limited monopoly and discrimination. §5. Theory of discriminatory monopoly-prices. §6. Problem of the economy of large production. §7. Economy of labor in large production. §8. Economical use of machinery in large production. §9. Economy of buying and selling in large quantities. §10. Certain limitations of large production. §11.

Part VI. Dynamic Changes in Economic Society

PART VI DYNAMIC CHANGES IN ECONOMIC SOCIETY

32. The Problem of Population

CHAPTER 32

THE PROBLEM OF POPULATION

§1. Introduction: static and dynamic problems of economics. §2. A static economy. §3. Dynamics and the social point of view. §4. Rhythmic change and cumulative change. §5. Some forces making for change. §6. Population-change as a dynamic force. §7. The Malthusian doctrine. §8. Tendency versus actuality. §9. Food limit versus moral restraint. §10. Inadequate recognition of psychic factors. §11. The overplus of blossom. §12. Limit of the food supply. §13. Eater and eaten. §14. Features of the biologic stage. §15.