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ECONOMICS OF INDUSTRY

BY

ALFRED MARSHALL,

PROFESSOR OF POLITICAL ECONOMY IN THE UNIVERSITY OF CAMBRIDGE
FELLOW OF ST JOHN'S COLLege, cambridGE;

SOMETIME FELLOW OF BALLIOL COLLEGE, OXFord.

AND

MARY PALEY MARSHALL,

LECTURER AT NEWNHAM COLLEGE, Cambridge.

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HOLMES LIBRA

HB

171 M34R

1888

12192

First Edition printed Oct. 1879. Reprinted Nov. 1879, 1881, 1883, 1884, 1885, 1886, 1888.

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PREFACE.

THIS book was undertaken at the request of a meeting of Cambridge University Extension lecturers, and is designed to meet a want which they have felt.

It is an attempt to construct on the lines laid down in Mill's Political Economy a theory of Value, Wages and Profits, which shall include the chief results of the work of the present generation of Economists. The main outlines. of this theory have been tested during many years in lectures at Cambridge, and more recently at Bristol.

An inquiry into the subjects of Banking, Foreign Trade and Taxation is deferred to a companion volume on the - "Economics of Trade and Finance."

The authors wish to acknowledge their obligations to Mr H. Sidgwick, Mr H. S. Foxwell and the Rev. W. Moore Ede for suggestions and aid in preparing the book for the press.

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