The Theory of Political Economy
One of three seminal works published in 1871 (along with Walras and Menger) which introduced the idea of the marginal theory of utility and thus a revolution in economic thinking.
The Theory of Political Economy (London: Macmillan, 1888) 3rd ed.
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The text is in the public domain.
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- Author: William Stanley Jevons
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Table of Contents
- CONTENTS
- 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
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