First published in 1909 and reissued in 1910, J. A. Hobson’s The Industrial System provides a complex analysis of distribution and consumption. Offering a critique of contemporary capitalism whilst accepting the superiority of the free market, the book includes an exploration of areas such as cost and surplus, supply and demand and the labour movement. This is an important work by one of the most important economic thinkers of the twentieth century, which will be of particular interest to modern economic historians.
Table of Contents
Introduction; Preface; Preface to the Second Edition 1. A Business 2. Trades and Their Place in the Industrial System 3. Spending and Saving 4. Costs and Surplus 5. Wages, Interest, and Rent 6. Ability 7. Distribution of the Surplus by Pulls 8. Prices and the Ratio of Exchange 9. The Mechanism of Markets 10. The Law of Supply and Demand 11. The Size of Businesses 12. Trusts and Monopolies 13. The Labour Movement 14. Socialism and the Social Income 15. Taxation of Imports 16. Money and Finance 17. Insurance 18. Unemployment 19. The Human Interpretation of Industry