Rural Wealth and Welfare: Economic Principles Illustrated and Applied in Farm Life

A practical introduction to economic principles applied to rural life, presenting aims and forces of production and classifying labor and capital while outlining methods to increase individual and cooperative efficiency. It surveys association, exchange, banking and credit, technical division of labor, and the aggregation and incentives that shape farm industry. Subsequent chapters analyze distribution through wages, profits, interest and land rent, then consider consumption habits, prudent versus imprudent use of wealth, and social organization for consumption. Final material assesses economic functions and machinery of government and offers guidance for adapting general principles to farming circumstances.