PRINCIPLES OF ECONOMICS: A RESTATEMENT-Raymond T. Bye

Description: Some great 'old' teaching in PRINCIPLES OF ECONOMICS; A RESTATEMENT. This 632 page hardback by Raymond Bye was published in 1947 and is NOT a modern reprint. From the review by American Economic Review we read, " Among the dozens of recent textbooks on Principles of Economics, this book stands out as one of the few that offer anything really new or significant. It is not put out as an original contribution in economic theory, yet there are a number of significant ideas in the book which the reviewer has not seen elsewhere. It is classical and orthodox in the main, yet in some respects the author must be classed otherwise: for instance, in defining capital to include consumers' goods and land; in defining rent as "income from capital viewed with reference to the particular article of capital from which it is derived"; in defining interest as the "income from capital viewed with reference to the value of the capital from which it is derived"; and in giving marginal uses an important determinative significance in the discussion of value. Professor Bye has gleaned from a rather wide variety of sources, mainly English and American; and he preserves a commendably judicious spirit in handling some disputed questions in principles. The problems of value and distribution are accorded far more space here than in most textbooks-almost half of the entire book; while many subjects considered in most elementary textbooks are treated only very briefly or are entirely omitted, such as railroads, labor problems and labor legislation, marketing, monopolies, socialism, and taxation. There is relatively little of the historical and statistical material found in many texts, and much abstract, hypothetical reasoning, but the latter is always well done, with excellent tables and graphs. The book is really a text on economic principles, or what many economists are pleased to call "theory"; and, as such, it is certainly one of the best published in recent years. There are some points at which the author will meet criticism. The inclusion of land as a kind of capital, while devoting separate chapters to land and capital, and to rent and interest, will be confusing, at least to economists of classical training. The author admits that "the values of the incomes derived from them (land and capital) can- not be explained on the same principles." The definition of credit as "a promise in lieu of a payment in cash or goods" is not the definition usually given. When Professor Bye speaks of the doctrine that rent does not enter into price as an "older view," "formerly" held, by such men as Taussig, he probably underestimates the prestige that doctrine still has among economists; just as when he states that "perhaps a majority" of the economists hold to the "quantity theory of money." Book is in good condition. Nice clean unmarked pages. Binding on inside front board showing a little looseness (not torn just some loose play) and some scarring with the fabric showing. Light rubbing and fading on spine. Light wear on board edges and corners. Shipping and handling 5.40 Media Mail to US destinations (HEAVY BOOK WEIGHS OVER TWO POUNDS). Canadian residents 30.35 Flat Rate Padded Envelope. All others welcome but extra postage required and shipped entirely at your risk.

Price: 2.9 USD

Location: Milton, Florida

End Time: 2025-01-11T03:48:49.000Z

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