How to use Economic in a sentence
They have no economic advantage in going to war.
But three years later a new economic development began.
In 1901-1902 the social economic condition of Italy was a matter of grave concern.
The article Fisheries deals with the subject from the economic and commercial point of view, and Angling with the catching of fish as a sport.
The fact that small nations can adopt standard treaties, laws, currencies, and international practices of larger countries means that a small economic unit can be viable.Advertisement
A competing company decides to make an up-front investment and build a new factory in a distant land, high in the mountains where residents who choose to live there have less economic opportunity.
This is a straight shot to economic poverty for any country desperate enough to try it.
If the poor remove rich people's incentives to produce economic gain, the rich, who behave somewhat rationally, will stop producing.
Is there a logical end to that—a physical or economic law of some kind that says only 10 percent or 20 percent or 30 percent of people can ever be this wealthy?
Roosevelt is saying that freedom itself cannot exist apart from some amount of economic liberty.Advertisement
Like a TV star that doesn't scale back his expenses after his show is cancelled, these benefits expand, not contract, during periods of economic decline, for two main reasons.
We will begin with the economic factors I believe will help end war, eleven in all.
Technology is simply the combining of other economic products in new ways.
As we transition from one set of economic realities to another, there will be severe disruptions along the way.
What I am saying is that as more factors align toward peace, peace becomes ever more the better economic option.Advertisement
The Communist system eschewed political liberties in favor of economic ones.
As Eisenhower's presidency neared an end, he spoke of war again, but less in terms of economic costs.
Owing to the historical past of Naples, and its social and economic condition at the end of the 17th century, the only study that really flourished there was that of law; and this soon penetrated from the courts to the university, and was raised to the level of a science.
He adopted the economic principles of List, and founded a society, the "Vedegylet," the members of which were to consume none but home produce.
Whereas in the past the strikes had been purely local and due to local conditions, they now appeared of more general and political character, and the sympathy strike came to be a frequent and undesirable addition to the ordinary economic agitation.Advertisement
Amber and certain similar substances are found to a limited extent at several localities in the United States, as in the greensand of New Jersey, but they have little or no economic value.
This act liberated the serfs from a yoke which was really terrible, even under the best landlords, and from this point of view it was obviously an immense benefit.2 But it was far from securing corresponding economic results.
The economic and moral condition of the peasantry was little improved by freedom, and in many districts there were signs of positive impoverishment and demoralization.
The meeting confined its attention to economic questions, and had no political character whatever.
In Italy these railways are called " economic railways," and are divided into five types.Advertisement
The State Geological and Economic Survey has made a careful study of the fishes of North Carolina, of the shad fisheries, of oyster culture, and of the development of terrapin.
My relative definition of poverty is "the state of being unable to reliably purchase a bundle of goods that allow one to participate in the economic norms of one's society."
I referred to it as a dance, but it is a dance to economic death.
What good is our high economic standing in the world if we do not use it for good purposes?
After speaking about the economic costs of war, the burden it places on the economy, and the toll this takes on the people, Eisenhower closed by describing the peace proposals he was offering Russia and China.
The supreme peril to the autocracy in Russia lay in the genuine grievances of the peasants, less political than economic, which had opened their minds to revolutionary propaganda.
The order is of little economic value.
Beyond the small fertile valley in which it stands is the barren desert, on which rain rarely falls and which has no economic value apart from its minerals (especially saline compounds).
Through the adoption of standardized treaties, they can enter into economic agreements, adopt the same weights and measures, and agree to honor the intellectual property of the others.
Whether such large numbers have the character of the " economic man " of the early economists matters very little.
To many minds the interest and usefulness of economics depend entirely on the application of these methods, for it is the actual working of economic institutions about which the statesman, the publicist, the business man and the artisan wish to know.
In modern problems we can watch the economic machine actually at work, cross-examine our witnesses, see that delicate interplay of passions and interests which cannot be set down or described in a document, and acquire a certain sense of touch in relation to the questions at issue which manuscripts and records cannot impart.
If we take the mere popular view of what is meant by the " old Political Economy," that is, that a generation or so ago economics was comprised in a neatly rounded set of general propositions, universally accepted, which could be set forth in a question we have really to determine is how we can make the best use of the accumulated knowledge of past generations, and to do that we must look more closely into the economic science of the 10th century..
Any one who has taken the trouble to trace the history of one of the modern schools of economists, or of any branch of economic science, knows how difficult it is to say when it began.
So that cross-sections of the stream of economic thought will reveal the existence, at different times, in varying proportions and at different stages of development, of most of the modern " schools."
Again, the classification of an economic bibliography at once shows how varied has been the character of economic investigation, ranging from the most abstract speculation on the one hand to almost technical studies of particular trades on the other.
In stating the position of economics during this time we cannot ignore all writers, except those who belonged to one group, however eminent that group may have been, simply because they did not represent the dominant ideas of the period, and exercised no immediate and direct influence on the movement of economic thought.
We must include the pioneers of the historical school, the economic historians, the socialists, the statisticians, and others whose contributions to economics are now appreciated, and without whose labours the science as we know it now would have been impossible.
That they must be studied by the economic historian is equally clear, owing to their practical influence and the fact that they furnished the theoretical bases of much of the economic policy of the 10th century.
If by the " old Political Economy " we mean the methods and conclusions of certain great writers, who stood head and shoulders above their contemporaries and determined the general character of economic science, we are still under no obligation to define the attitude of the present generation with regard to them.
There has been no revolution in economic science, and is not likely to be any.
But great as the achievements of this school have been, it has not developed any scientific machinery which can take the place of theory in economic investigation.
If our view is correct that, broadly speaking, the two ways of regarding economic questions are complementary rather than mutually exclusive, there does not seem to be any reason why the growth of the historical school should have been destructive of the " old Political Economy " if it had been well founded.
On the principles we have explained, therefore, the Ricardian economics should supply just that body of general theory which is required in the investigation of modern economic problems, and the reputation of at any rate the leading writers should be as great as ever.
Modern economic criticism and analysis has destroyed the authority of the " old Political Economy " as a scientific system.
It is, in fact, quite true that many of them were more interested in practical aims than in the advancement of economic science.
No one who is really experienced in economic investigation cares to emphasize the originality, still less the revolutionary character of his own work.
The result will be that while the doctrines are apparently being brought into closer correspondence with the facts of life, they will in reality be made quite useless for practical purposes or economic investigation.
The position we have described is no doubt partly due to the unsettlement of economic opinion and the hostile criticism of old-established doctrines which has characterized the last generation.
Or it may be the result of economic agnosticism, combined with unwillingness to cut adrift from old moorings.
Whatever the cause, the complete restatement of economic theory, which some heroic persons demand, is clearly impossible, except on conditions not likely to be realized in the immediate future.
The span of life is limited; the work requires an extensive knowledge of the economic literature of several countries and the general features of all the important departments of modern economic activity.
This is largely a question of the organization of economic studies, and it is of the greatest importance that, if possible, such an effort should be made to present in a connected form the best results of modern criticism and analysis.
The very effectiveness of modern criticism and analysis,which has brought great gains in almost all branches of economic theory, has made the science more difficult as a subject of ordinary study.
In the case of many subjects this would matter very little, but in that of economics, which touches the ordinary life of the community at so many points, it is of great importance, especially at a time like the present, when economic questions determine the policy of great nations.
The " economic man " of the earlier writers, with his aversion from labour and his desire of the present enjoyment of costly indulgences, has been abandoned by their successors, with the result that in the opinion of many good people altruistic sentiment may be allowed to run wild over the whole domain of economics.
The " economic man " has, on the other hand, been succeeded by another creation almost as monstrous, if his lineaments are to be supposed to be those of the ordinary individual - a man, that is, who regulates his life in accordance with Gossen's Law of Satiety, and whose main passion is to discover a money measure of his motives.
Much suggestive work on this subject of a general character is incorporated in economic books of the present day, but there is room for a whole series of careful monographs on a question of such fundamental importance.
If they could, by some happy chance, have been left for discovery by modern economists, they would without doubt have received different treatment, to the great advantage of economic science.
No economic doctrine so well illustrates the achievements and the defects of modern economic analysis.
Moreover, the study of the theory of rent has had a very great influence on all branches of economics by destroying the notion that it is possible to draw sharp lines of distinction, or deal with economic conceptions as though they were entirely independent categories.
That modern economic analysis is incomparably more accurate than that of earlier times there can be no question.
But the net result of the development of the doctrine of rent is that all problems in which this factor appears, and they embrace the whole range of economic theory, must apparently be treated on their merits.
It is clear that in the interests of general economic theory we require a vast number of special studies before an adequate restatement can be undertaken.
It must be clearly recognized that the functions of economic science in the present requirements of the world cannot possibly be discharged by treatises on economic theory.
General theory never has been, and in the nature of things never can be, the actual reflex of the life and movement of the economic world.
If the necessary limitations of general economic theory are recognized, most of the difficulties we have noticed disappear.
For such a general theory there is ample material in the economic literature of all civilized countries.
At present the language of economics is for the ordinary Englishman like a foreign language of exceptional difficulty, because he is constantly meeting with words which suggest to his mind a whole world of associations quite different form those with which economic theory has clothed them.
The refinements of economic analysis, as distinguished from its broader achievements, should be reserved for special studies, in which a technical scientific terminology, specially devised, can be used without danger of misconception.
The backwardness of economic science has been an index of the danger threatening the industrial and commercial supremacy of the United Kingdom.
If we take, for example, the corner-stone of the British commercial system in the 19th century, namely, the policy of "free trade ", the public do not now read the economic works which supplied the theoretical basis of that policy, and, indeed, would not be convinced by them.
It thus became the work of economic science ruthlessly to analyse the existing situation, explain the issues involved in the commercial policy of different countries, and point out the alternative methods of dealing with present difficulties, with their probable results.
Local governing authorities now discharge economic functions of enormous importance and complexity, involving sums of money larger than sufficed to run important states a generation ago.
On this subject many monographs and larger works have been published in recent years, but dealing rather with such questions as trade unionism, co-operation and factory legislation, than the structure and organization of particular industries, or the causes and the results of the formation of the great combinations, peculiarly characteristic of the United States, but not wanting in England, which are amongst the most striking economic phenomena of modern times.
Shield Nicholson's Principles of Political Economy (3 vols.) not only gives a survey of economic principles since Mill's time, but contains much suggestive and original work.
Ashley's Economic History, while Vinogradoff's Villenage in England and The Growth of the Manor, as well as Maitland's Domesday Studies, are of great importance to the student of early economic institutions.
These books are generally regarded as typical of the best English work of recent years in economic investigation.
Studies of particular questions, both concrete and theoretical, in foreign languages are too numerous to specify, and much of the best modern work is to be found in economic periodicals.
The most important of the firs, in an economic sense, is the Norway spruce (Picea excelsa), so well known in British plantations, though rarely attaining there the gigantic height and grandeur of form it often displays in its native woods.
The resinous products of the Norway spruce, though yielded by the tree in less abundance than those furnished by the pine, are of considerable economic value.
Numerous other firs are common in gardens and shrubberies, and some furnish valuable products in their native countries; but they are not yet of sufficient economic or general interest to demand mention here.
The interest of insects to the eastern races was, however,economic, religious or moral.
The economic situation was of the gravest.
This characteristic is of great economic importance, the natural twist facilitating the operation of spinning the fibres into thread or yarn.
This selection of one market for detailed examination does not rob our sketch of generality, as might at first be thought, since broadly the history of the development of one market is the history of the development of all, and on the whole the economic explanation of the evolution that has taken place may be universalized.
Beside the local trade of a rich surrounding farming country, the railway facilities of St Joseph have enabled it to build up a great jobbing trade (especially in dry goods), and this is still the greatest economic interest of the city.
He did not deal with the history of the people, with economic or social problems - the dignity of history was to him a reality.
Thus, it would appear, the whole of the expansion of the Latin kingdom (which may be said to have attained its height in 1131, at the death of Baldwin II.) may be shown to have been dictated, at any rate in large part, by economic motives; and thus, too, it would seem that two of the most powerful motives which sway the mind of man - the religious motive and the desire for gain - conspired to elevate the kingdom of Jerusalem (at once the country of Christ, and a natural centre of trade) to a position of supremacy in Latin Syria.
The emperor Isaac Angelus had not only the old grudge of all Eastern 1 The "economic" motive for taking the cross was strengthened by the papal regulations in favour of debtors who joined the Crusade.
Although the economic value of the phosphate deposits was first realized about 1889, between 1894 and 1907 Florida produced, each year, more than half of all the phosphate rock produced in the whole United States, the yield of Florida (1,357,365 long tons) in 1907 being valued at $ 6, 577,757; that of the whole country at $10,653,558.
By his economic legislation Solon placed Athenian agriculture once more upon a sound footing, and supplemented this source of wealth by encouraging commercial enterprise, thus laying the foundation of his country's material prosperity.
Tantalum has in recent years been turned to economic service, being employed, in the same manner as tungsten, for the production of the filaments employed in incandescent electric lighting.
A masterly conspectus of the general character of the Hellenistic kingdoms in their political, economic and social character, their artistic and intellectual culture is given by Beloch, Griech.
But he also attacked, from the point of view of his own socialistic theories, the economic outcome of the Revolution.
But for the appalling economic conditions produced by the fall in the value of assignats, Babeuf might have shared the fate of other agitators who were whipped into obscurity.
It was the attempts of the Directory to deal with this economic crisis that gave Babeuf his real historic importance.
With the development of the economic crisis, however, Babeuf's influence increased.
In support of this decision it was urged that it was no good pursuing people whom it was impossible to catch, that the isolated posts in the interior had not been able to protect the friendly tribes; and that the semi-desert nature of the country did not justify any attempt at economic development.
He was crowned in the Sistine Chapel 3rd March 1878, and at once began a reform of the papal household on austere and economic lines which found little favour with the entourage of the former pope.
It appears to be true that, in the words of Dunoyer, the economic regime of every society which has recently become sedentary is founded on the slavery of the industrial professions.
For its economic effects, when it is regarded as an organization of labour, reference may be had to Smith's Wealth of Nations, book iii.
Since the restoration of tranquillity and the establishment of sound political and economic conditions in the Nile valley, Alexandria has greatly expanded.
He left South Africa while the economic crisis was still acute and at a time when the voice of the critic was audible everywhere; but, in the words of the colonial secretary (Mr Alfred Lyttelton) he had in the eight eventful years of his administration "laid deep and strong the foundation upon which a united South Africa would arise to become one of the great states of the empire."
In recent years there has been an immigration of Italians into Louisiana, which seems likely to prove of great social and economic importance.
Among economic plants should be mentioned the coffee, cacao, citron, cinnamon, cocoanut and rubber tree.
The dependence of the island on one crop has been an artificial economic condition often of grave momentary danger to prosperity; but generally speaking, the progress of the industry has been steady.
So early also began dissatisfaction with the economic regulations of the colonial system, even grave resistance to their enforcement; and illicit trade with privateers and foreign colonies had begun long before, and in the 17th and 18th centuries was the basis of the island's wealth.
There is no more evidence to warrant the wholly erroneous statement sometimes made that emancipation was an economic set-back to Cuba than could be gathered to support a similar statement regarding the United States.
The demands of the Liberals were as in 1868; those for personal and property rights were much more definitely stated, and among explicit reforms demanded were the separation of civil and military power, general recognition of administrative responsibility under a colonial autonomous constitutional regime; also among economic matters, customs reforms and reciprocity with the United States were demanded.
This was met in a very large measure by deposits of natural nitre and the products of artificial nitrieres, whilst additional supplies are available in the ammoniacal liquors of the gas-manufacturer, &c. The possible failure of the nitre deposits led to attempts to convert atmospheric nitrogen into manures by processes permitting economic success.
The economic effect of the railways upon the districts through which they run is apparent from the comparative values of the tithes in the regions traversed by the Anatolian railway in 1889 and 1898 in which years it so happened that prices were almost at exactly the same level, and again in 1908-1909, when they were only slightly higher.
These attracted so much attention that he was sent in the same year on an economic mission to England, which resulted in his publication (in 1838) of Des interets materiels de la France.
It is mainly because these fisheries are seasonal that the periodicity has been noticed, and because of the economic interests involved the study of the seasonal and longer periodicities has become very important.
Many economic changes probably occurred in consequence of the variations in tide-generating force, as, for instance, the decline in the mediaeval Baltic herring fisheries controlled by the Hanseatic League.
Gold is found in the sands of all its upper tributaries, and coal and petroleum are amongst the chief mineral products which have been brought into economic prominence.
No trustworthy estimate of the rate of the increase of production can, however, be formed, as several uncertain economic factors have to be taken into account.
Consult further Materials for the Study of the Economic Conditions of West Siberia (22 vols., St Petersburg, 1889-1898), condensed in Peasant Land-Tenure and Husbandry in Tobolsk and Tomsk (St Petersburg, 1894), both in Russian.
Sheets of mica which have been subjected to earth-movements are frequently cracked and ridged parallel to these directions, and are then valueless for economic purposes.
But there is also an economic side to it by reason of the conditions of modern warfare.
There are many short streams along this coast, fed by heavy rainfalls, but they have no geographic importance and no economic value under existing conditions.
This is one of the most important fluvial systems of Brazil, but its economic value is impaired by the great waterfalls of Guayra, or Sete Quedas, and Uribu-punga, and by the rapids and waterfalls in the majority of its affluents near their junction with the main stream.
The economic plants of Brazil, both indigenous and exotic, are noticeably numerous.
Among the palms there are several of great economic value, not only as food producers but also for various domestic uses.
The arrivals fluctuate greatly in number from year to year, influenced by the prevailing economic conditions in the country.
The emperor occupied himself to a far greater extent with the economic development of his people and country than with active political life.
It includes a herbarium and palm house, with an extensive range of hot-houses, a museum of economic botany, a lecture-room and other requisites for the study of botany.
The strife was largely economic, the people desiring to deprive the nobles of the immunity of taxation which they had enjoyed.
A lack of imagination and of the philosophic spirit prevented him from penetrating or drawing characters, but his analytical gift, joined to persevering toil and honesty of purpose enabled him to present a faithful account of ascertained facts and a satisfactory and lucid explanation of political and economic events.
During the seven years between the formation of the league and its final triumph, he devoted himself wholly to the work of promulgating his economic doctrines.
It becomes equivalent to economic laisser-faire and "Manchesterism," and as such it must fight its own corner with those who now take into consideration many national factors which had no place in the early utilitarian individualistic regime of Cobden's own day.
A trial of strength took place between him and Mr de Justh, the champion of the extreme demands in the matter of Hungarian financial and economic autonomy; on the 7th of November rival banquets were held, one at Mako, Justh's constituency, over which he presided, one at Budapest with Kossuth in the chair; the attendance at each foreshadowed the outcome of the general meeting of the party held at Budapest on the 11th, when Kossuth found himself in a minority of 46.
In their efforts to establish Hungarian independence on the firm basis of national efficiency they had succeeded in changing their country from one of very backward economic conditions into one which promised to be in a position to hold its own on equal terms with any in the world.
Mechanical, commercial, economic and statistical facts (the latter usually involving the time-relation) afford numerous examples.
The discontent of the rural labourers and of the poorer class of craftsmen in the towns, caused by the economic distress that followed the Black Death and the enactment of the Statute of Labourers in 1351, was brought to a head by the imposition of a poll tax in 1379 and again in 1381, and at the end of May in the latter year riots broke out at Brentwood in Essex; on the 4th of June similar violence occurred at Dartford; and on the 6th a mob several thousands strong seized the castle of Rochester and marched up the Medway to Maidstone.
After his fall from office in June 1898, his principal achievement was the negotiation of the Franco-Italian commercial treaty, though, as deputy, journalist and professor, he continued to take an active part in all political and economic manifestations.
The efforts made by the administration to restore the Boers to the land, to develop the material resources of the country, and to remove all barriers to the intellectual and moral development of the people, were soon, however, hampered by severe Economic commercial depression.
The problem was both economic and racial, and on both grounds South Africans showed a determination to exclude the competition of Indians and other Asiatics.
Nevertheless, on economic as well as political grounds, the leaders of both parties in the Transvaal were prepared to consider favourably the proposals put forward by Dr Jameson at the close of 1906 for a closer union of all the self-governing colonies, and the first direct step to that end was taken at an inter-colonial conference held in May 1908.
Among other forest trees of economic importance are the silk-cotton tree (Bombax ceiba), the Palo de vaca, or cow-tree (Brosimum galactodendron), whose sap resembles milk and is used for that purpose, the Inga saman, the Hevea guayanensis, celebrated in the production of rubber, and the Altalea speciosa, distinguished for the length of its leaves.
The principal economic plants of the country are cacau, coffee, cassava (manioc) called " mandioca " in Brazil, Indian corn, beans, sweet potatoes, taro, sugar-cane, cotton and tobacco.
The kinds of greatest economic value are sturgeon, shad, salmon, lampreys, eels, pike and whiting.
Several of the marine species are of first-rate economic importance.
He then passed the laws on the press, suppressing the censorship. By reorganization of the finances, the protection of industry and the carrying out of great public works, France regained its economic prosperity, and the ministry became popular.
Calcium cyanamide has assumed importance in agriculture since the discovery of its economic production in the electric furnace, wherein calcium carbide takes up nitrogen from the atmosphere to form the cyanamide with the simultaneous liberation of carbon.
Since the advent of the British power, the immigration of Hindus with a lower standard of comfort and of Chinamen with a keener business instinct has threatened the economic independence of the Burmese in their own country.
Cournot was the first who, with a competent knowledge of both subjects, endeavoured to apply mathematics to the treatment of economic questions.
In his Principes de la theorie des richesses (1863) he abandoned the mathematical method, though advocating the use of mathematical symbols in economic discussions, as being of service in facilitating exposition.
The township and the hundred came also in for certain forms of collective responsibility, because they presented groups of people associated in their economic and legal interests.
Several subsequent risings of the ciompi, largely of an economic character, were put down, and the Guelph families gradually regained much of their lost power, of which they availed themselves to exile their opponents and revive the odious system of ammonizioni.
The last two categories, which do not become prominent anywhere in Europe until the 12th century, had, like all gilds, a religious tinge, but their aims were primarily worldly, and their functions were mainly of an economic character.
On the other hand, the gild merchant was certainly an official organ or department of the borough administration, and it exerted considerable influence upon the economic and corporative growth of the English municipalities.
This transference of the authority of the latter to a number of distinct bodies and the consequent disintegration of the old organization was a gradual spontaneous movement, - a process of slow displacement, or natural growth and decay, due to the play of economic forces, - which, generally speaking, may be assigned to the 14th and 15th centuries, the very period in which the craft gilds attained the zenith of their power.
Whatever power they did secure, whether as potent subsidiary organs of the municipal polity for the regulation of trade, or as the chief or sole medium for the acquisition of citizenship, or as integral parts of the common council, was, generally speaking, the logical sequence of a gradual economic development, and not the outgrowth of a revolutionary movement by which oppressed craftsmen endeavoured to throw off the yoke of an arrogant patrician gild merchant.
Few, however, are of economic importance.
The length of time for which the holding should last came to be specified, at first for a term of years and then for life, and some payment to the grantor was provided for, not pretending to represent the economic value of the land, but only to serve as a mark of his continued ownership.
This process had probably already begun in a small way in the growth of institutions which belong to the economic side of feudalism, the organization of agriculture on the great estates.
They did not have their origin in economic considerations, but were either intended to mark the vassal's tenant relation, like the relief, or to be a part of his service, like the aid, that is, he was held to come to the aid of his lord in a case of financial as of military necessity.
This was particularly the case in parts of France and Germany where feudalism continued to regulate the property relations of lords and vassals longer than elsewhere, and where the underlying economic feudalism remained in large part unchanged.
In this later pseudo-feudalism, however, the political had given way to the economic, and customs which had once had no economic significance came to have that only.
After the military defeat of France by Germany in 1870, he formed the idea of acquiring a great colonial empire, not to colonize it, but for the sake of economic exploitation.
While the political element in the development of the Hanseatic League must not be underestimated, it was not so formative as the economic. The foundation was laid for the growth of German towns along the southern shore of the Baltic by the great movement of German colonization of Slavic territory east of the Elbe.
Among the factors, economic, geographic, political and social, which combined to bring about the decline of the Hanseatic League, none was probably more influential than the absence of a German political power comparable in unity and energy with those of France and England, which could quell particularism at home, and abroad maintain in its vigour the trade which these towns had developed and defended with their imperfect union.
Of his purely historical works special mention must be made of his Memoire sur les actes d'Innocent III (1857), and his Memoire sur les operations financieres des Templiers (1889), a collection of documents of the highest value for economic history.
But during the last quarter of the 19th century active steps were taken to foster the economic interests of the city.
The efforts of the Hungarians to complete their social and economic, no less than their political, emancipation from Austria and Vienna have been unremittingly pursued.
Another new mining code was adopted in 1901, and this, with an improvement in political and economic conditions, has led to a renewal of mining enterprise.
Apparatus for the economic production of a potable water from sea-water is of vital importance in the equipment of ships.
Tsetse-flies are of great economic and pathological importance as the disseminators of tsetse-fly disease (nagana) and sleeping sickness.
The marine fauna is of economic importance.
The economic transition of the later 17th century from the agricultural to the commercial regime was followed by a further transition to the manufacturing regime during the closing years of the 18th and the early years of the 19th centuries.
Devoting himself to the economic side of geology in various parts of North America, he was enabled to bring out in 1861 A Practical Treatise on Coal, Petroleum and other Distilled Oils.
Coal has not been found, but peat may be exploited under favourable economic conditions.
Though not in name, in fact he was prime minister; in all internal affairs it was he who decided; and the fiscal and economic reforms of the new reign were the application of his theories.
The effects of this policy of blind obscurantism far outweighed any good that resulted from the king's well-meant efforts at economic and financial reform; and seven this reform was but spasmodic and partial, and awoke ultimately more discontent than it allayed.
By reason of its unusual geological character and great economic importance this district deserves a more extended description.
The economic importance of the region generally has been fully proved.
Its causes have been political, economic, religious, or mere love of adventure.
It is difficult to analyse closely the economic effect of emigration, because so much depends upon the character of the emigrants and the condition of the labour market.
Emigration is therefore an economic gain, both directly and indirectly.
Attempts have sometimes been made to put a money value on the economic gain by immigration.
The causes of migration from country to city are mainly economic. In early stages of culture men are scattered over the country, or at most gathered together in hamlets and villages.
Few genera have greater claims to notice from an economic point of view.
Fresh visitations of the Black Death, in 1362 and 1369, intensified the social and economic disturbances which had begun with the first outbreak in 1348.
Bismuth is extracted from its ores by dry, wet, or electro-metallurgical methods, the choice depending upon the composition of the ore and economic conditions.
On account of their work in destroying plant-eating insects, the ichneumonflies are of great economic importance.
The enormous rate at which aphids multiply under favourable conditions makes them of the greatest economic importance, since the growth of immense numbers of the same kind of plant in close proximity - as in ordinary farm-crops - is especially advantageous to the insects that feed on them.
See Economic Entomology, Scale-Insect.
Those of economic value are kaolin, mined chiefly in the vicinity of Hockessin, New Castle county, the static kaolin product being exceeded in 1903 only by that of Pennsylvania among the states of the United States; granite, used for road-making and rough construction work, found near Wilmington; and brick and tile clays; but the value of their total product in 1902 was less than $500,000.
Previously, however, in August 1680, the duke of York had leased this territory for ro,000 years to William Penn, to whom he conveyed it by a deed of feoffment in August 1682; but differences in race and religion, economic rivalry between New Castle and the Pennsylvania towns, and petty political quarrels over representation and office holding, similar to those in the other American colonies, were so intense that Penn in 1691 appointed a special deputy governor for the " lower counties."
This article is restricted to general oceanography in its physical aspects, the closely-related meteorological,, biological and economic aspects being dealt with elsewhere.
This is actually the case; the Carboniferous, Cretaceous and Jurassic systems (qq.v.) contain coal-bearing strata though in unequal degrees,- the first being known as the Coal Measures proper, while the others are of small economic value in Great Britain, though more productive in workable coals on the continent of Europe.
The European region poorest in coal (proportionately to area) is Scandinavia, where there is only one field of economic value - a small one in the extreme south of Sweden.
The Rhenish-Westphalian coalfield was fully described in all details, geological, technical and economic, in a work called Die Entwickelung des niederrheinisch-westfcilischen Steinkohlen Bergbaues in der zweiten Hcilfte des 19 ten Jahrhunderts (also known by the short title of Sammelwerk) in twelve quarto volumes, issued under the auspices of the Westphalian Coal Trade Syndicate (Berlin, 1902-1905).
The area of yellow pine forests (the stand is estimated at 67,568.5 million ft.), and the lesser one of hardwood, together with considerable softwood, represent lumber-producing possibilities of much economic importance.
For economic description see The Natural Resources and Economic Conditions of the State of Texas (New York, 1901).
As a result of this visit more humane methods in the treatment of the natives were introduced, and measures taken to develop more fully the economic resources of the country.
Its economic influence was multiform and incalculable, owing to its vast property, its system of taxation and its encouragement of monasticism.
The records of printing indicate that religious, social and economic betterment was the subject of an ever-increasing number of pamphlets.
The Newfoundland Bank fisheries were of greater economic importance and are still very important.
Increasing numbers of Creoles came home for education, and though they rarely went beyond Spain, yet Spain itself was being permeated by the influence of French philosophic and economic writers.
An instrument for superintending this coordination in the social and economic aspects was ready to hand in the Economic Council of the German Reich, set up by the new Republican constitution of 1919.
Among topics which have exercised the collective mind of modern Congregationalism, and still exercise it, are church-aid and home missions, church extension in the colonies, the conditions of entry into the ministry and sustentation therein, Sunday school work, the social and economic condition of the people (issuing in social settlements and institutional churches), and, last but not least, foreign missions.
Phosphorite, when occurring in large deposits, is a mineral of much economic value for conversion into the superphosphate largely used as a fertilizing agent.
The deposits were rich but irregular and local, and were much worked from 1866 to 1884, but are no longer of economic importance.
This was of much importance in early wars; but it is of only minor importance as a commercial highway since it leads to Canada through a region of little economic importance.
In fact the economic development of Asia Minor, a backward but richly endowed land, great in area as Germany herself, had been secured for German enterprise when the first Balkan War intervened.
Apart from gold-mining, coal-mining and gum-digging, the industries are still mainly the growing of food and raw material; and the occupation of the land is easily the chief of all economic questions.
The systematic development of the colony, the opening up of the hinterland and the exploitation of its economic resources date from the appointment of Captain Binger as governor, a post he held for over three years.
But Herzl approached the subject entirely on its secular side, and his solution was economic and political rather than sentimental.
He devoted his leisure to the improvement of his economic treatise, which had for some time been out of print, but which the censorship did not permit him to republish; and in 1814 he availed himself (to use his own words) of the sort of liberty arising from the entrance of the allied powers into France to bring out a second edition of the work, dedicated to the emperor Alexander, who had professed himself his pupil.
In the same year the French government sent him to study the economic condition of Great Britain.
His great service to mankind lay in the fact that he disseminated throughout Europe by means of the French language, and popularized by his clear and easy style, the economic doctrines of Adam Smith.
During the period of Brand's presidency a great change, both political and economic, had come over South Africa.
This alteration in the political outlook was accompanied, and in part occasioned, by economic changes of great significance.
In carrying out this policy of government regulation and supervision of corporations he became involved in a great struggle with the powerful financial interests whose profits were threatened, and with those legislators who sincerely believed that government should solely concern itself with protecting life and property, and should leave questions of individual and social relations in trade and finance to be settled by the operation of so-called natural economic laws.
The establishment in Austria of universal suffrage in 1907 had as its aim the creation, in the place of the old Parliament, which was crippled by the strife of nationalities, of a Chamber in which social and economic interests should prevail over national ones.
A great economic and social programme 'was announced, including the extension of waterways, the exploitation of electricity, an improved system of communication, industrial insurance, and a department for public health.
This bold plan met with no success; the economic programme in particular did not come into force; it was an empty promise, which was not taken seriously.
It is true that nobody could have foreseen coming events; but things kept on occurring which counselled prudence, and threatened the economic situation from without.
A good general impression of the economic situation can easily be gained from the returns of the state of the labour market.
The economic situation of Austria shared in this respect in the general development of world affairs, in which also, after a period of prosperity, a reaction set in in 1913.
The year 1914 soon showed signs of a coming relaxation of the economic crisis; but this development was interrupted by the World War.
The Hungarian Government could claim the right to take independent economic measures for her own territory in war-time; a joint arrangement was only possible for the territories of the Dual Monarchy - which were united for tariff purposes - by agreements between the Austrian and Hungarian Governments; and since neither Government was exclusively concerned to carry out an adjustment of economic conditions solely in accordance with what was necessary for waging war and holding out with the supplies at their disposal, but each had also to champion the interests of one half of the monarchy against the other, the negotiations between the two Governments were often attended with the greatest difficulties, and constantly ended unsatisfactorily.
The more complete the economic isolation of the monarchy the more the lack of raw materials made itself felt, both for the manufacture of indispensable war supplies and for the feeding of the civil population.
This system of State control prevented industries which used grain as their raw material from buying in an open market, and in their case too it was found necessary to regulate supplies by means of an organization analogous to that of the economic associations already mentioned.
This in part depended on national factors, which became more clearly visible as the situation of the Central Powers became more and more unfavourable, but it was in part due simply to the exhaustion due to economic need.
He now devoted himself principally to economic studies.
His economic writings are collected in the 2nd vol.
Oncken (Frankfort, 1888); a facsimile reprint of the Tableau economique, from the original MS., was published by the British Economic Association (London, 1895).
There are steam flour mills, furniture factories and various other small manufactories; but the main economic interest of the city is in brickyards and coal-mines in its immediate vicinity.
Among the rocks of economic importance may be mentioned granite of numerous kinds, syenite, serpentine, porphyry, marble, sandstones and marls.
The life of the Church, moreover, was affected by the economic changes due to the rise of the power of money as opposed to the old economic system based upon land.
The country had been brought by the Austro-Hungarian war policy to the very brink of economic and financial ruin.
In respect of Austria Czechoslovakia was animated by the desire to assist in relieving the economic situation of the country, while opposed both to the incorporation of Austria with Germany and to the foundation of a Danubian confederation.
It was in favour of aiding Austria on a broad basis of financial and economic help, to be rendered generally to the states of central Europe by international agreement.
It was in favour of creating in central Europe a new political and economic system by which permanent peace would be secured - a definite understanding between all the " Succession States " of the former AustroHungarian monarchy in the matter of communications, post, telegraphs, navigation, finance and banking, exchange of goods and commercial treaties generally, opening up the way to a system of unfettered economics and freer trade - but at the same time jealously guarding the economic and political sovereignty of the Czechoslovak Republic.
In pursuance of its practical policy of rapprochement and economic cooperation in the reconstruction of central Europe in particular and of Europe in general, Czechoslovakia concluded a series of commercial treaties with her various neighbours and with the Allied Powers.
The idea underlying these councils was to create, as it were, a certain constitution for factories by which the workman who had hitherto been a mere machine should become a creative factor, closely identified with the organization of the undertaking, conscious of responsibility, and thus making of democracy the same reality in economic life as it had already become in political life.
Long before the political revolution of 1918 the Czechoslovaks had been convinced of the necessity for a far-reaching measure of land reform, both from a social and economic point of view as well as from national considerations.
The demand for the nationalization of the great landed estates was thus not only supported as a social and economic necessity in order to provide the landless population, notably the legionaries, with land, but was, deep in the minds of the people, regarded as a legal rectification of the wrongs suffered through the confiscations which followed the defeat of the White Mountain.
The economic and financial position of Czechoslovakia showed signs in 1921 of steady recovery from the chaos which succeeded the close of the war.
The economic importance of Czechoslovakia is strikingly shown by a comparison with the rest of the former Austro-Hungarian Monarchy.
But it is no more than an accident that this year constitutes the dividing line in both cases, the change in the United States being due to the Civil War, which so profoundly influenced the fiscal, economic and political history of the country in all directions.
His next publications also were on economic or political subjects, Rationale of Political Representation (1835), and Money and its Vicissitudes (1837), now practically forgotton; about the same time also appeared some of his pamphlets, Discussion of Parliamentary Reform, Right of Primogeniture Examined, Defence of Joint-Stock Banks.
August Cieszkowski has written on philosophical and economic subjects.
Holyoake founded a society in London which subsequently under the leadership of Charles Bradlaugh advocated the disestablishment of the Church, the abolition of the Second Chamber and other political and economic reforms.
Of the twenty-one species of freshwater fish, five are peculiar to the country, but none is of much economic value save the barbel and eel.
Profoundly troubled as Algeria was in the last years of the 19th century by the anti-Semitic agitation, which occasioned frequent changes of governors, it appears to-day to have turned aside from sterile political struggles to interest itself exclusively in the economic development of the country.
There are mineral springs, especially salt springs, in various parts of the state, particularly in the Blue Grass Region; these are now of comparatively little economic importance; no salt was reported among the state's manufactures for 1905, and in 1907 only 736,920 gallons of mineral waters were bottled for sale.
The history of economic opinion in modern times, down to the third decade of the r9th century, is, in fact, strictly bipartite.
The second stage is occupied with the gradual rise and ultimate ascendancy of another system founded on the idea of the right of the individual to an unimpeded sphere for the exercise of his economic activity.
This shows how little it was Smith's habit to separate (except provisionally), in his conceptions or his researches, the economic phenomena of society from all the rest.
This theory is, of course, not explicitly presented by Smith as a foundation of his economic doctrines, but it is really the secret substratum on which they rest.
The improvement in the productiveness of labour depends largely on its division; and he proceeds accordingly to give his unrivalled exposition of that principle, of the grounds on which it rests, and of its greater applicability to manufactures than to agriculture, in consequence of which the latter relatively lags behind in the course of economic development.
These first two books contain Smith's general economic scheme; and we have stated it as fully as was consistent with the brevity here necessary, because from this formulation of doctrine the English classical school set out, and round it the discussions of more modern times in different countries have in a great measure revolved.
The fourth book is principally devoted to the elaborate and exhaustive polemic against the mercantile system which finally drove it from the field of science, and has exercised a powerful influence on economic legislation.
His teaching on the subject is not altogether unqualified; but, on the whole, with respect to exchanges of every kind, where economic motives alone enter, his voice is in favour of freedom.
In 1832 he published a Political Economy, the chief purpose of which was to enforce the truth that the right economic condition of the masses is dependent on their right moral condition, that character is the parent of comfort, not vice versa.
President Diaz's policy was to keep down disorder with a strong hand; to enforce the law; to foster railway development and economic progress; y '?
In brief, under President Diaz's rule the history of Mexico is mainly economic. In the six financial years1893-1894to1899-1900inclusive the yield of the import duties increased by upwards of 80%; the revenue from ogressic stamps over 60%, though the duties were reduced; the postal revenue from1895-1896to1899-1900rose 60%; the telegraph revenue over 75%.
The economic condition of Adrianople was much impaired by the war of 1877-78, and was just showing signs of recovery when, in 1885, the severance from it of Eastern Rumelia by a Customs cordon rendered the situation worse than ever.
In the last part of the, 9th century its decline was rapid, not only because of the increasing scarcity of whales, but because of the introduction of the mineral oils, and by the end of the century whaling had ceased to be of any economic importance.
The natural resources of Guatemala are rich but undeveloped; and the capital necessary for their development is not easily obtained in a country where war, revolution and economic crises recur at frequent intervals, where the premium on gold has varied by no less than 500% in a single year, and where many of the wealthiest cities and agricultural districts have been destroyed by earthquake in one day (18th of April 1902).
When the two lowlands are traced eastward they become confluent after the Niagara limestone has faded away in central New York, and the single lowland is continued under the name of Mohawk Valley, an east-west longitudinal depression that has been eroded on a belt of relatively weak strata between the resistant crystalline rocks of the Adirondacks on the north and the northern escarpment of the Appalachian plateau (Catskills-Helderbergs) on the south; forming a pathway of great historic and economic importance between the Atlantic seaports and the interior.
Among the more important periodicals are the Bulletin of the Geological Society of America (Rochester, N.Y., 1889 seq.); the American Journal of Science (New Haven, Conn., 1818 seq.); the American Geologist (Minneapolis, i888 seq.); Journal of Geology (Chicago, 1893 seq.); Economic Geology (Lancaster, Pa., 1905 seq.).
In the eastern forest region the number of species decreases somewhat from south to north, but the entire region differs from the densely forested region of the Pacific Coast Transition zone in that it is essentially a region of deciduous or hardwood forests, while the latter is essentially one of coniferous trees; it differs from the forested region of the Rocky Mountains in that the latter is not only essentially a region of coniferous trees, but one where the forests do not by any means occupy the whole area, neither do they approach in density or economic importance those of the eastern division of the country.
Coal and lignitic coal are the principal economic minerals met with in this central plain, though natural gas occurs and is put to use near Medicine Hat, and " tar sands " along the northeastern edge of the Cretaceous indicate the presence of petroleum.
Socialism presupposes that broad masses of the people have been accustomed to organization, that numerous economic and political organizations exist, and can develop in perfect freedom.
The economic development has, since the Civil War, been steady and continuous.
The success of the economic system was such that in 1860 the cotton crop of Alabama was nearly 1,000,000 bales (9 8 9,955 bales), being 18.4% of the entire cotton product of the United States.
But in the 'nineties the price of the cotton fell below the cost of production, owing to the enormous supply, and this was accompanied by economic depression.
As a bulwark against the Spanish, the colony was successful, but as an economic experiment it was a failure.
A very full account of the cultivation of rice in India will be found in Sir George Watt's Dictionary of the Economic Products of India.
Economic crises, due in great part to the existing system of excessive armaments, were transforming armed peace into a crushing burden, which peoples had more and more difficulty in bearing.
Disarmament, or to speak more correctly, the contractual limitation of armaments, has become, of late years, as much an economic as a humanitarian peace-securing object.
National culture, economic progress and the production of wealth are either paralysed or developed in a wrong direction.
Economic disturbances are caused in great measure by this system of excessive armaments; and the constant danger involved in this accumulation of war material renders the armed peace of to-day a crushing burden more and more difficult for nations to bear.
The general public, more particularly in Great Britain and France, shows an ever-increasing distrust of the rapid growth of armaments as a possible cause of grave economic troubles.
All questions relating to the economic interests, the legislation and administration of any particular state, must be excluded from.
In 1867 he was appointed geologist-in-charge of the United States Geological and Geographical Survey of the Territories, and from his twelve years of labour there resulted a most valuable series of volumes in all branches of natural history and economic science; and he issued in 1877 his Geological and Geographical Atlas of Colorado.
Among the artificial causes may be classed war and economic errors in the production, transport and sale of food-stuffs.
With the reform of the civil service elections become less a scramble for office and more a contest of political or economic principle.
The culture of such algae may prove of economic importance; gelatine, glue and agar-agar would be valuable by-products.
Of all the mixed motives that went to the evolution of church architecture in the middle ages, this rivalry in ostentation was probably the most fertile in the creation of new forms. A volume might be written on the economic effects of this locking up of vast capital in unproductive buildings.
Economic distress increased the number of highway robberies, these in turn lamed commercial intercourse.
The famines of the 'forties, with their subsequent political and economic difficulties, transferred to America millions of the Irish, whose genius for organization in politics has not fallen short of their zeal for religion.
The Susquehanna is a wide and shallow stream with a zigzag course and numerous islands, but both the Susquehanna and the Delaware, together with their principal tributaries, flow for the most part transverse to the geological structure, and in the gorges and water-gaps through which they pass ridges in the mountain region, is some of the most picturesque scenery in the state; a number of these gorges, too, have been of great economic importance as passages for railways.
A remarkable economic feature is the almost universal distribution of gold throughout Tibet.
Deposits of brown iron ore of great economic value occur in many sedimentary rocks, such as the Lias, Oolites and Lower Greensand of various parts of England.
Strikes are very common, seventy-three having occurred in such a year of comparative quiet as 1903; but the causes of disturbance are almost as often political as economic, and the annals of the city include a long list of revolutionary riots and bomb outrages.
Indeed, economic causes contributed much to the decay of romantic chivalry.
His economic essays were published in the volumes entitled Political Discourses (1752) and Essays and Treatises on Several Subjects (1753); the most important are those on Commerce, on Money, on Interest and on the Balance of Trade, but, notwithstanding the disconnected form of the essays in general, the other less important essays combine to make a complete economic system.
In connexion with this he emphasizes a too generally neglected factor in economic phenomena, " the constant and insatiable desire of the mind for exercise and employment."
To sum up, it may be said that Hume enunciated the principle that " everything in the world is purchased by labour, and our passions are the only causes of labour "; and further, that, in analysing the complex phenomena of commerce, he is superior sometimes to Adam Smith in that he never forgets that the ultimate causes of economic change are the " customs and manners " of the people, and that the solution of problems is to be sought in the elementary factors of industry.
As Archbishop of the Northern Province he took a conspicuous part in the social and economic, as well as the religious, questions agitating an industrial community, while in the House of Lords his eloquence and clear common-sense gave him an influence not confined to ecclesiastical matters.
The main interest of recent Paraguayan history is economic rather than political.
It is the law of diminishing returns from land, involving as it does - though only hypothetically - the prospect of a continuously increasing difficulty in obtaining the necessary sustenance for all the members of a society, that gives the principal importance to population as an economic factor.
It is, in fact, the confluence of the Malthusian ideas with the theories of Ricardo, especially with the corollaries which the latter deduced from the doctrine of rent (though these were not accepted by Malthus), that has led to the introduction of population as an element in the discussion of so many economic questions in modern times.
Thus Chalmers "reviews seriatim and gravely sets aside all the schemes usually proposed for the amelioration of the economic condition of the people" on the ground that an increase of comfort will lead to an increase of numbers, and so the last state of things will be worse than the first.
The fish of greatest economic value are sturgeon (four species), which yield great quantities of caviare and isinglass, the herring, the salmon and the lobster.
It has been introduced for economic purposes into the Azores and California.
In 1788 Sir Joseph Banks, at the request of the directors, drew up a memoir on the cultivation of economic plants in Bengal, in which he gave special prominence to tea, pointing out the regions most favourable for its cultivation.
In 1852 he began experiments in steam cultivation, and in 1858 the Royal Agricultural Society awarded him the prize of £50o which it had offered for a steam-cultivator that should be an economic substitute for the plough or the spade.
AgricultureDespite the enormous development of industries and commerce, agriculture and cattle-rearing still represent in Germany a considerable portion of its economic wealth.
This office is divided into four departments, dealing with (i.) the business of the Bundesrat, the Rcichstag, the elections, citizenship, passports, the press, and military and naval matters, so far as the last concern the civil authorities; (ii.) purely social matters, such as old age pensions, accident insurance, migration, settlement, poor law administration, &c.; (iii.) sanitary matters, patents, canals, steamship lines, weights and measures; and (iv.) commercial and economic relationssuch as agriculture, industry, commercial treaties and statistics.
Increased prosperity, a still greater increase in population and the social and economic disturbances incidental to the conversion of an agricultural into a manufacturing community, led to the practical abandonment of the principle of universal service.
Thus, solely under the influence of social and economic conditions, various risings of the peasants had taken place during the latter part of the 15th century, the first one being in 1461, and at times the insurgents had combined their forces with those of the lower classes in the towns, men whose condition was hardly more satisfactory than their own.
The rising was due primarily neither to religious nor to political, but to economic causes.
In 1876, however, the party in Prussi; reunited on a programme-which demanded the maintenance of the Christian character of the schools, cessation of the Kulturkampf, limitation of economic liberty, and repression of social democracy, and this was accepted also by the Conservatives in the Reichstag.
In doing this he placed himself in opposition to both the financial and the economic doctrines of the Liberals.
The unwillingness of the Reichstag to sanction the expenditure of any large sums on railways and other public works also hindered the exploitation of the economic resources of very large areas.
A similar movement began among the Protestants after the commercial crisis of 1873, which forms an epoch in German thought, since it was from that year that men first began to question the economic doctrines of Liberalism, and drew attention to the demoralization which seemed to arise from the freedom of speculation and the influence of the stock exchangea movement which in later years led to some remarkable attempts to remedy the evil by legislation.
A minister, Rudolph Todt, and Rudolph Meyer criticized the moral and economic doctrines of Liberalism; his writings led to the foundation of the ChristlichSoziale-Arbeilerverein, which for a few years attained considerable notoriety under the leadership of Adolph Stocker.
The general tendency among the numerous societies of Christian Socialism, which broke up almost as quickly as they appeared, was to drift from the alliance with the ultra-Conservatives and to adopt the economic and many of the political doctrines of the Social Democrats.
Another class which, seeing itself in danger from the economic changes in society, agitated for special legislation was the small retail traders of the large towns.
Every class appealed to the government for special laws to protect itself against the effects of the economic changes which had been brought about by the modern industrial system.
In general, Germany had passed since the war through a social and economic revolution similar to that undergone by Great Britain during the earlier half of the I9th century, though on a greater scale and at a much accelerated pace.
In spite of the election of the Reichstag by manhood suffrage, there existed, as Count Billow pointed out in 1904, no real parliamentary system in Germany, and owing to the economic, political, social and religious structure of the nation there could never be one.
In the last petroleum, natural gas, salt and gypsum are obtained, but elsewhere in southern Ontario no economic minerals except building materials are obtained.
Since 1889 the university of Toronto has published numerous valuable studies on historical, economic and social questions, e.g.
The work as a whole is a striking example of the weakness of treating economic problems from a purely a priori standpoint by the deductive method.
And this stagnation of the administration was accompanied, as might have been expected, by economic stagnation.
At the renewal of the periodical financial and economic settlement (Ausgleich) in 1877 no important change was made, but in 1882 the system of compulsory service was extended to Bosnia and Herzegovina, and a reorganization was carried out, including the introduction of army corps and local organization on the Prussian plan.
After the year 1873, a strong movement in favour of protective duties made itself felt among the Austrian manufacturers who were affected by the competition of German, English and Belgian goods, and Austria was influenced by the general movement in economic thought which about this time caused the reaction 2 Matlekovits, Die Zollpolitik der osterreichish-ungarischen Monarchie (Leipzig, 1891),., gives the Hungarian point of view; Bazant, Die Handelspolitik OsterreichUngarns (1875-1892, Leipzig, 1894).