Democracy and Social Ethics

by Jane Addams

CUSTOM AND COMPETITION

By RICHARD T. ELY, LL.D., Professor of Political Economy and Director of the School of Economics and Political Science in the University of Wisconsin; President of the American Economic Association; author of "Monopolies and Trusts," etc.

Topics treated under Custom include the Rent of Land and Custom; Interest and Custom; The Remuneration of Personal Services and Custom; Custom and Commerce.

Competition is first discussed with reference to the biological aspects of the question, and the significance of subhuman competition is confined and a careful classification of its various kinds is presented. One of the main topics of the book is Competition as a Principle of Distribution, and its treatment of the subject of price admirably supplements the theoretical discussion in "Monopolies and Trusts."