Excerpt from Elements of Political Economy This work is intended primarily for the use of students. The leading principles are stated, as far as possible, without the introduction of controversial matter. At the same time, throughout the work indications are given of the points still in dispute and of the difficulties involved in the further development of the principles and theories of which an elementary exposition is given. The work is based on the "Principles of Political Economy" (3 vols.) by the same author. It is, however, not simply an abstract. In the first four books the material used has been almost entirely recast. In the last book it was thought better to omit certain topics altogether rather than attempt any further condensation of the argument. In order to keep the volume within reasonable limits the greater part of the historical matter which forms a characteristic feature of the larger work has been excluded, though the results of the application of the historical method have been retained. Little space also was available for the history of economic thought and doctrines. In the text, however, the importance of these and other omitted topics has been emphasised, and the student is recommended throughout to supplement his reading by reference to special works. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.