The addition of this collection of readings to the long list of
books in elementary economics is due to no premeditated design.
It had assumed dimensions too formidable to be suppressed before
the decision to publish it was made. It has emerged as a by-product
of some years of experience with classes in current economic
problems. Its beginning is to be found in the use, as supplementary
material, of some readings quite different in kind from the matter
presented in the texts. As time has passed, the purpose, viewpoint,
subject-matter, and arrangement of the course have all undergone
constant modification. The readings, accordingly, have also
changed in purpose, in character, and in arrangement. They have
increased in number until the collection eventually has come to
assume pretentious size. Its growth has known its periods of
gradual accretion and its times of stress and strain. The latter
have resulted in the appearance of a collection of readings in
mimeographed form nearly three years ago, a revision in printed
form a year later, and the present re-revised edition. Its gradual
emergence is the result, in part of the editor's developing conception
of the subject, in part of class room experience. Unfortunately
both of these forces impelling development are still in process. The
editor can, accordingly, give no guaranty that for the indefinite
future he will vouch for the present collection, either in its general
outlines, or in its detailed arrangement. But, if there is to be no
end, there must be, for a time at least, a respite from experimen-
tation.
An attempt has been made to adapt these readings to the needs
of an introductory course. This has been all the more necessary,
because the greater part of them were not intended for this use.
This adaptation has involved the elimination of extraneous matter,
as well as the omission of discussions of subtle points. The latter,
however valuable to advanced students, are likely to divert the
minds of novices in economics from the main issues. In this
process most of the readings have been reduced materially in length.
In many cases the reduction has been quite drastic. Since this vol-
ume is not intended for reference purposes, the omissions have
not been indicated in the text. The footnotes of the originals, except
where imperatively demanded, have been dispensed with. Most of
the titles are of the editor's selection. An attempt has been made,
however, faithfully and accurately to preserve the viewpoint and