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• Preface to the First Edition (1871)
• Preface to the Second Edition (1879)
• Preface to the Third Edition By Harriet Jevons
• Errata
• Chapter I: Introduction
• Mathematical Character of the Science.
• Confusion Between Mathematical and Exact Sciences.
• Capability of Exact Measurement.
• Measurement of Feeling and Motives.
• Logical Method of Economics.
• Relation of Economics to Ethics.
• Chapter II: Theory of Pleasure and Pain
• Pleasure and Pain As Quantities.
• Pain the Negative of Pleasure.
• Anticipated Feeling.
• Uncertainty of Future Events.
• Chapter III: Theory of Utility
• Definition of Terms.
• The Laws of Human Want.
• Utility Is Not an Intrinsic Quality.
• Law of the Variation of Utility.
• Total Utility and Degree of Utility.
• Variation of the Final Degree of Utility.
• Disutility and Discommodity.
• Distribution of Commodity In Different Uses.
• Theory of Dimensions of Economic Quantities.
• Actual, Prospective, and Potential Utility.
• Distribution of a Commodity In Time.
• Chapter IV: Theory of Exchange
• Importance of Exchange In Economics.
• Ambiguity of the Term Value.
• Value Expresses Ratio of Exchange.
• Popular Use of the Term Value.
• Dimension of Value.
• Definition of Market.
• Definition of Trading Body.
• The Law of Indifference.
• The Theory of Exchange.
• Symbolic Statement of the Theory.
• Analogy to the Theory of the Lever.
• Impediments to Exchange.
• Illustrations of the Theory of Exchange.
• Problems In the Theory of Exchange.
• Complex Cases of the Theory.
• Competition In Exchange.
• Failure of the Equations of Exchange.
• Negative and Zero Value.
• Equivalence of Commodities.
• Acquired Utility of Commodities.
• The Gain By Exchange.
• Numerical Determination of the Laws of Utility.
• Opinions As to the Variation of Price.
• Variation of the Price of Corn.
• The Origin of Value.
• Chapter V: Theory of Labour
• Definition of Labour.
• Quantitative Notions of Labour.
• Symbolic Statement of the Theory.
• Dimensions of Labour.
• Balance Between Need and Labour.
• Distribution of Labour.
• Relation of the Theories of Labour and Exchange.
• Relations of Economic Quantities.
• Various Cases of the Theory.
• Joint Production.
• Over-production.
• Limits to the Intensity of Labour.
• Chapter VI: Theory of Rent
• Accepted Opinions Concerning Rent.
• Symbolic Statement of the Theory.
• Illustrations of the Theory.
• Chapter VII: Theory of Capital
• The Function of Capital.
• Capital Is Concerned With Time.
• Quantitative Notions Concerning Capital.
• Expression For Amount of Investment.
• Dimensions of Capital, Credit and Debit.
• Effect of the Duration of Work.
• Illustrations of the Investment of Capital.
• Fixed and Circulating Capital.
• Free and Invested Capital.
• Uniformity of the Rate of Interest.
• General Expression For the Rate of Interest.
• Dimension of Interest.
• Peacock On the Dimensions of Interest.
• Tendency of Profits to a Minimum.
• Advantage of Capital to Industry.
• Are Articles In the Consumers' Hands Capital?
• Chapter VIII: Concluding Remarks
• The Doctrine of Population.
• Relation of Wages and Profit.
• Professor Hearn's Views.
• The Noxious Influence of Authority.
• Appendix I
• Appendix Ii

Dimensions of Labour.

If I have correctly laid down, in preceding chapters, the Theory of Dimensions of Utility and Value, there ought not to be much difficulty in stating the similar theory as regards Labour. We might in fact treat labour as simply one case of disutility or negative utility, that is as pain, or at any rate as a generally painful balance of pleasure and pain, endured in the action of acquiring commodity. Thus its dimensions might be described as identical with those of utility; U would then denote intensity of labour, or degree of labour, just as it was used to denote degree of utility. If we measure labour with respect to the quantity of commodity produced, that is, if we make commodity the variable, then total amount of labour will be the integral of U dM, and the dimensions of amount of labour will be MU, identical with those of total utility.

If for any reasons of convenience we prefer to substitute a new symbol, specially appropriated to express the dimensions of labour, and say that intensity of labour is represented by E (Endurance), and total quantity of labour incurred in the production of certain commodity by ME, it must be remembered that the change is one of convenience only; U and E are essentially quantities of the same nature, and the difference, so far as there is any, arises from the fact that quantities symbolised by E will usually be negative as compared with those symbolised by U. Labour, however, is often measured and bought and sold by time, instead of by piecework or commodity produced; in this case, while E continues to express intensity of labour, ET will express the dimensions of amount of labour.

Rate of production will obviously possess the same dimensions as rate of consumption (p. 64), namely, MT-1, and this quantity forms a link between labour as measured by time and by produce; for ET × MT-1 = ME. It would be possible to invent various other economic quantities, such as acceleration of production, with the dimensions MT-2; but, until it is apparent how such quantities enter into economic theorems, it seems needless to consider them further.