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PUBLISHED BY THE HARVARD UNIVERSITY PRESS
Reprinted with permission of the publishers by
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COPYRIGHT, 1914-15, BY THE PRESIDENT AND FELLOWS OF HARvard College
PRINTED IN THE UNITED STATES OF AMERICA
BENDIX, L. Germany's Financial Mobilization
BOGGS, T. H.
Capital Investments and Trade Balances within
the British Empire
DICKINSON, Z. C. State Guaranty of Bank Deposits in Nebraska.
HEILMAN, R. E.
Two Rate Decisions of Importance. Note
LIEFMANN, R. Monopoly or Competition as the Basis of a Gov-
MITCHELL, W. C. Human Behavior and Economics: A Survey of
PERSONS, C. E. Women's Work and Wages in the United States 201
United States. Note
TAUSSIG, F. W. Lincoln and the Tariff: A Sequel. Note
Two Biographies of Inventors: Dickinson's Life of Fulton
TUCKER, R. S. The British Taxes on Land Values in Practice
American Gold and Silver Production in the First Half of the Six-
Appendix: Monetary Values in Spanish America
British Taxes on Land Values in Practice, The. By R. S. Tucker
Economic Synthesis, The: A Reply.
Ely's Property and Contract. Review. By F. J. Swayze
By W. C. Mitchell
Increment Taxes, Effects of, upon Building Operations. Note.
By R. M. Haig
Marconcini's L'Industria Domestica Salariata. Review. By
Monopoly or Competition as the Basis of a Government Trust
Taxation in Ohio, Recent Developments in. By O. C. Lockhart
Wages Boards in Australia. By M. B. Hammond.
War, The, and the Financial Situation in the United States.
HUMAN BEHAVIOR AND ECONOMICS: A SURVEY OF RECENT LITERATURE
Introduction: psychology and economics, 1.-I. Parmelee, Science of Human Behavior, 3. — II. Thorndike, The Original Nature of Man, 6. III. Wallas, The Great Society, 12. IV. Veblen, The Instinct of Workmanship, 19.-V. Sombart, Der Bourgeois, 29.- VI. Lippmann, A Preface to Politics, 37.-VII. Walling, Progressivism and After, 41. — VIII. Conclusion, 46.
A SLIGHT but significant change seems to be taking place in the attitude of economic theorists toward psychology. Most of the older writers made no overt reference to psychology, but tacitly imputed to the men whose behavior they were analyzing certain traits consistent with common sense and convenient as a basis for theorizing. By recent writers, on the contrary, non-intercourse with psychology, long practised in silence, is explicitly proclaimed to be the proper policy.
This definite pronouncement has arisen from a somewhat tardy recognition that hedonism is unsound psychology, and that the economics of both Ricardo and Jevons originally rested on hedonistic preconceptions. Since hedonism is unsound, either we must admit that both the classical and the marginal analysis