Cover: Value and Income, from Harvard University PressCover: Value and Income in E-DITION

Value and Income

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$65.00 • £54.95 • €60.00

ISBN 9780674429505

Publication Date: 01/01/1931

286 pages


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This study undertakes to explain the prices of goods and the earnings of the productive factors, which are viewed as resultants of a common process. The conventional practice of analyzing value before the problems of distribution have been considered is therefore abandoned, and the argument is built up by examining the effect of the successive introduction of land and capital into a simple labor system of production. An important role is assigned to costs of various kinds, in the sense of opportunities foregone. Though the emphasis is primarily upon conditions in contemporary capitalistic societies, considerable attention is given to the influence of various cultural and technological factors which have undergone significant changes in the course of time.

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Schelling the Trailblazer

Books influence us in untold ways, and the ones that influence us the most are often read in childhood. Harvard University Press Senior Editor Julia Kirby is reminded of this on the anniversary of the birth of one of this country’s most celebrated economists. This month would have brought Thomas Schelling’s one-hundredth birthday—and he got closer to seeing it than many mortals. The Nobel laureate economist died just five years ago, after a brilliant career as both a scholar and an advisor to US foreign policy strategists. What better day to dip into his classic work