Principles of Political Economy, Vol. 2 by Wilhelm Roscher

"Principles of Political Economy, Vol. 2" by Wilhelm Roscher is a scientific publication written in the late 19th century. This volume delves into the complexities of political economy, focusing particularly on income, its classification, and the broader implications for national wealth and economic systems. The book offers a comprehensive examination of the principles governing the distribution of goods and the effects of economic activities on income generation. The opening of the book introduces essential concepts in political economy, particularly the distinctions between receipts, income, and produce. Roscher elaborates on how income can only be considered derived from productive economic activities, while highlighting the importance of distinguishing between gross, net, and free income. He emphasizes the role of accurate bookkeeping in tracking these different income types, linking them to the economic progress of societies. Through these discussions, Roscher lays the groundwork for understanding how goods are distributed and income is generated, setting a critical tone for the analytical exploration that follows in the subsequent sections. ... Read more