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ELEMENTS OF ECONOMICS

O F E CON O M I CS

BY
A. G. FRADENBURGH

PROFESSOR OF HISTORY AND POLITICS, ADELPHI COLLEGE
AND PROFESSOR OF ECONOMICS IN BROOKLYN BRANCH, COLLEGE OF
CITY OF NEW YORK

CHARLES SCRIBNER'S SONS

NEW YORK BOSTON CHICAGO

CopyRIGHT, 1921, By
CHARLES SCRIBNER'S SONS

THE scribner PREss

PREFACE

This book is designed to be an introduction to the science of economics. Technical discussions and difficult terminology have been avoided. The author has endeavored to write a book of practical value to the student, but is convinced that any practical work must be founded upon sound theory. There are many economic questions upon which there may be differences of opinion. Both sides of most disputed questions are given. Students should be encouraged to draw their own conclusions after weighing the evidence. While the experience of most teachers of economics has convinced them that one book should be followed as a guide, students should read references in other works. Fortunately there are many excellent books—perhaps too difficult in parts for the beginner—containing many chapters that can be read with profit by even an immature student. Among many works suitable for reference purposes the following are especially recommended: Bulloch, Introduction to the Study of Economics; Carver, Principles of Political Economy; Ely, Outlines of Economics; Fetter, Principles of Economics; Seager, Introduction to Economics; and Turner, Introduction to Economics. Grateful acknowledgment is made to the publishers and authors of copyrighted books for permission to use selec

tions. The Macmillan Company has given permission to - V

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