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PREFACE.

This book was undertaken at the request of a meeting of Cambridge University Extension lecturers, and is designed to meet a want which they have felt.

It is an attempt to construct on the lines laid down in Mill's Political Economy a theory of Value, Wages and Profits, which shall include the chief results of the work of the present generation of Economists. The main outlines of this theory have been tested during many years in lectures at Cambridge, and more recently at Bristol.

An inquiry into the subjects of Banking, Foreign Trade and Taxation is deferred to a companion volume on the ** Economics of Trade and Finance."

The authors wish to acknowledge their obligations to Mr H. Sidgwick, Mr H. S. Foxwell and the Rev. W. Moore Ede for suggestions and aid in preparing the book for the press.

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