THE UNIVERSITY OF CHICAGO PRESS 



Value and Distribution. By Herbert J. Davenport, of the Uni- 

 versity of Missouri. 



600 pages, 8vo, cloth; net $3.50, postpaid $3.72 



The author thus defines his position in his preface: "Since 

 the time of Adam Smith, economic theory has been in possession 

 of doctrines enough for a reasonably complete, consistent, and 

 logical system of thought — if only those doctrines had been, with 

 a wise eclecticism, properly combined and articulated. The 

 emphasis in the present volume upon the entrepreneur point of 

 view in the computation of costs and in the analysis of the process 

 by which distributive shares are assigned, has nothing new in 

 it; it was necessary only that the point of view be clearly dis- 

 tinguished, consistently held, and fully developed." 



Nation. The most notable achievement in systematic economic criticism 



that has appeared on this side the Atlantic. 



Economic Bulletin. The reader will 



every 



There is an excellent and 



brief summary of the author's doctrines in the closing chapter. 



The True Nature of Value. By Rufus Farrington Sprague. 



190 pages, i2mo, cloth; net $1.00, postpaid $1.10 



Mr. Sprague is not a professional economist, but a successful 

 manufacturer, whose attention has been for many years directed 

 to the abstract principles underlying exchange. In the public 

 discussions of a few years ago on the subject of a monetary 

 standard he took an important part, and he was the candidate 

 of the "Gold Democrats" for governor of Michigan. He has 

 developed a theory of exchange value which resembles in some 

 points that of Bastiat, but is much more elaborately developed 

 and in many respects entirely new. The book deserves the 



m 



attention of all economists. 



Economist. His reasoning throughout is clear. 



Journal of Political Economy. Mr. Sprague's book is admirably ingenious, 



compact, and original in thought, as it is admirably clear in point of 



exposition. 



Value is placed in service-utility, and the argument 



News 



and cogently put. 



shown to be synonymous 



3 



