Abstract

Economic Vitamin
Mussey, Henry Raymond | February 13, 1924 issue

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This article focuses on the books "The Theory of Social Economy," by Gustav Cassel and "Essays in Economic Theory," by Simon Nelson Patten. In the realm of economic theory, praise a man for consistency when he has one idea and sticks to it like grim death. That praise Gustav Cassel deserves. His big and important book is built around one idea, namely, that through the mechanism of price the supply of scarce things and the demand for them are adjusted in such wise as to effect the best satisfaction of wants possible under the circumstances. Mr. Cassel, however, has little more patience with cost theories as historically worked out.

See Also:

BOOKS; THEORY of Social Economy, The (Book); ESSAYS in Economic Theory (Book); CASSEL, Gustav; PATTEN, Simon Nelson; ECONOMICS -- Sociological aspects
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