The Simple Golf Swing

1 "The inadequacy of the classical theories if we except the wages-fund theory, the most serious, not to say vicious error of the old writers came from their being only half-true rather than untrue." Seager, in Columbia University Lectures. - Cf. Modern theory of matter. 3 Smart's Second Thoughts of an Economist, p. 46. Compare with this statement of wealth the definitions of capital and of income by the American economist, Professor Irving Fisher: "A Stock of wealth existing at a given instant of time is called capital; A flow of benefits from wealth through a period of time is called income." Elementary Principles of Economics, p. 38. Political science and business. If we had the space it would be interesting to develop at length the historical aspect of the relation of government to business. Many business men feel that anti-trust statutes, tax laws and the like burdens and limitations of government have culminated in the necessities of the war after a short growth dating back say to the Sherman Act of 1890 or perhaps three years earlier to the Interstate Commerce Act. The fact is that several centuries ago and during a period antedating that time, public administration in practice and in theory concerned itself much more with business than it does now. Indeed the relation between the form of political organization and the stage of economic evolution of a given territory has always been very intimate. "The idea that economic life has ever been a process mainly dependent on individual action an idea based on the impression that it is concerned merely with methods of satisfying individual needs is mistaken with regard to all stages of human civilization, and in some respects it is more mistaken the further we go back." *...