Taxation. There remain over writings which fall into two classes constituted by cross-divisions, namely Mathematical-Economics and Reviews. This classification is not perfect the place of each piece could not always be predicted from the definition of the section in which it occurs. It may be useful, therefore, to prefix to each of the collected papers a short description of its purport. In making these prefatory explanations, I have resisted the temptation to prolixity which the opportunity of being my own interpreter presented. I hope to escape the fate of that pretentious host who, as described by the satirist, so bored his guests by descanting on the qualities of the viands, that they revenged themselves by not tasting any of the good things— "Suaves res, si non causas narraret earum et Naturas dominus." Additional clues or links are afforded by some new footnotes, indicated by asterisks. There are also appended to some of the papers new notes, enclosed in square brackets. Additions to existing notes are enclosed in square brackets; all except references to pages in the present volumes. in the present volumes. I have added also, for the further convenience of the reader, an Index referring to topics on which I have endeavoured to shed light. Sometimes a topic is best introduced by the name of a writer who has made it his own. But the only names mentioned in the Index are those of writers whom I have criticised, or at least characterised, whether favourably or otherwise. The Index would have to be much enlarged if it was to include the names of all those to whom in the text I have acknowledged indebtedness. Among them would be many of those who have now collectively placed me under a new obligation, the Members of the Royal Economic Society. All Souls College, 1924. F. Y. EDGEWORTH SECTION I VALUE-AND-DISTRIBUTION (A) THE OBJECTS AND METHODS OF POLITICAL ECONOMY [THIS is an inaugural lecture delivered in 1891 on the occasion of entering on the duties of Professor of Political Economy at the University of Oxford. The address naturally contains much that is special to the place and the occasion; but there may be some reflections of more general interest.] Many of those who have spoken on occasions similar to the present, have signalised their entrance on the work of a Professor by indicating the scope and method of the science professed. It was thus that my illustrious predecessor, Senior, in the introductory lecture on Political Economy which he delivered before the University of Oxford almost two-thirds of a century ago, described the provinces of theory and practice, and the wide and slippery interval by which they are separated. So Dieterici—a great name in the annals of statistics-in his inaugural address to the University of Berlin,1 almost as long ago, showed the opposite errors of "mere philosophy and mere experience." In fine, not to multiply authoritative instances, the present occupant of the chair of Political Economy at Cambridge,* on his accession to that eminence, gave a memorable discourse on the present position of Economics. I follow these precedents in the choice of a subject; I cannot follow them in the originality of its treatment. Difficile est proprie communia dicere; I shall endeavour to appropriate to the present occasion reflections which others have made common property. In this spirit, approaching first that part of our subject which authorities on method distinguish as abstract or theoretical, I 1 De vid et ratione economiam politicam docendi, Berlin, 1835. * Alfred Marshall. |