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Excerpt from Industrial Evolution
The present stimulating volume, which in the original bears the title Die Entstehung der Volkswirt-schaft (The Rise of National Economy), gives the author's conclusions on general industrial development. Somewhat similar ground has been worked over, among recent economic publications, alone by Professor Schmoller's comprehensive Grundrisz der allgemeinen Volkswirtschafts-lehre, Pt. I. But the method of treatment and the results of the present work allow it to maintain its unique position.
Chapters I. and II. outline the prominent features of primitive economic life in the tropical zone. These realistic accounts of the "pre-economic stage of industrial evolution," preceding the dawn of civilization, ably emphasize the kinship of economics and ethnology. In chapter III. he presents brilliantly and concisely the suggestive series of economic developmental stages of household, town and national economy, based on the industrial relation of producer to consumer; and Chapter IV. offers a masterly survey of industrial systems - domestic work, wage-work, handicraft, commission work (house industry), and the factory. With these chapters may be classed Chapter V. The Decline of the Handicrafts. The remaining chapters analyze more specifically, from the viewpoints of the individual and society, some of the great processes of industrial evolution: union and division of labour; the intellectual integration of society as effected by the press; the formation of social classes; and the further adjustment of labour through internal migrations of population. At the same time they enrich economic terminology with many telling expressions.
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