13. How much is a man worth? (Carver, Essays in Social Justice, chapter vii.)
14. Causes of the scarcity of labor. (Carver, Elementary Economics, pages 269-271.)
15. The importance of consumption. (Carver, Elementary Economics, chapters xxxviii and xxxix.)
16. Importance of thrift. (Annals, vol. lxxxvii, pages 4-8.)
17. Luxury. (Carver, Elementary Economics, chapter xl.)
18. Choosing a vocation. (Parsons, Choosing a Vocation.)
PART III—AMERICAN SOCIAL PROBLEMS
CHAPTER XVIII
INDUSTRIAL RELATIONS
181. LABOR AND CAPITAL.—Strictly speaking, five distinct factors are involved in production: land, labor, capital, co÷rdination, and government. As a matter of fact, we are accustomed to speak of the immediate conduct of industry as involving only two factors: labor and capital. Used in this sense, the term labor refers to the masses of hired workmen, while the term capital is held to include not only the individual who has money to invest, i.e. the capitalist proper, but also the entrepreneur, or managing employer.