Length11h 40m
About this audiobook
Leon MacLaren (1910-1994) was a barrister, politician, philosopher and the founder of the School of Economic Science. He considered the true goal of Economics to be the discovery of the conditions which allow every individual to find a fulfilling life. In his view, science was a study of laws that exist in nature, whilst economics was a study of the humanities, with the interaction of human nature and the natural universe at its heart.
MacLaren defined economics as 'the study of the natural laws which govern the relationships between people in society'.
This book is based on a three-year course prepared by Leon MacLaren for the School of Economic Science in London in the late 1960s. The editor, Raymond Makewell, presents the original subject matter revised with more recent examples and statistics from Australia, Canada, New Zealand, UK and USA.
Instead of making supply and demand the starting point, it begins with the simple observation that all material wealth is ultimately derived from land, and, where goods are exchanged the first requirement is trust, or a system of credit. From this starting point the major characteristics of the modern economy such as banking, companies or corporations, international trade, taxation and trade cycles are examined in terms of the conditions that govern how and why they evolved and how they operate today.
The framework in which the economy operates is examined in terms of how the system of land tenure and the concepts of property evolved in the English-speaking world, the role of government in economic affairs, and the degree of economic freedom. This reveals how the current economic situation denies people access to all that they need to work and produce wealth for themselves.
Injustice is the inevitable result and poverty its inseparable companion.
Audiobook details
GenreBusiness and Economics
Length11 hrs 40 mins
Narrated byListen with 1,000+ voices
FormateBook with Audio
Publish dateAug 8, 2012
LanguageEnglish
Table of contents
1Acknowledgements
5810.1 The Causes of Inflation
2Foreword
5910.2 The Consequences of Inflation
3Introduction
60Chapter 11 The Organisation of Production
4Who Was Leon Maclaren?
6111.1 The Rise of Limited Liability
5Leon Maclaren’s Economics
6211.2 The Nature of a Company
Show all chaptersShow less
6This Book
6311.3 Corporations and Ethics
7Section 1 – First Principles
6411.4 Financial Markets
8Chapter 1 Preliminaries
6511.5 Capital and Interest
91.1 Humanity
66Chapter 12 International Trade and Finance
101.2 The World in Which We Live
6712.1 International Trade
111.3 The Point of Interaction
6812.2 International Finance
121.4 Man in Society
69Chapter 13 Economic Cycles
131.5 Production
7013.1 Cycles
141.6 Community
7113.2 Description of the Long Economic Cycle
151.7 The Significance of Land
7213.3 An Historical Perspective
161.8 The Importance of Location
7313.4 Impact of the Cycle
17Chapter 2 The Division of Wealth
7413.5 Managing the Cycle
182.1 The Primary Division of Production
7513.6 A Wider View
192.2 Determination of Earnings
76Chapter 14 Taxation
202.3 Determination of the Tenant’s Share
7714.1 The Need for Taxation
212.4 Secondary Claims on Wealth
7814.2 Principles of Taxation
222.5 Lowest Level of Earnings
7914.3 Contemporary Taxation
232.6 An Historical Perspective
8014.4 Particular Taxes
24Chapter 3 Civil and Economic Freedom
8114.5 Taxation and Equity
253.1 The Importance of Earnings for Civil Rights
8214.6 Government Expenditure
263.2 Natural Law
8314.7 Effects of Taxation
27Chapter 4 Further Divisions of Wealth
84Section 3 – an Ethical Perspective
284.1 The Rise of Capitalism
85Chapter 15 The History of Land Tenure
294.2 Secondary Claims
8615.1 Saxon Land Tenure
30Chapter 5 Value
8715.2 The Norman Changes
315.1 What Are Values?
8815.3 Early Land Enclosures
325.2 Values in Operation
8915.4 Later Land Enclosures
33Chapter 6 Price
9015.5 Absolute Ownership of Land
346.1 Setting the Price
9115.6 The Aftermath
356.2 Monopoly and Price
9215.7 Conclusion
366.3 Advertising and Price
93Chapter 16 Property
376.4 Taxation and Price
94Chapter 17 Government
386.5 The Law of Supply and Demand
9517.1 Justice
396.6 Production and Price
9617.2 Mercy
40Chapter 7 The Means of Exchange
9717.3 Protection
417.1 What is Money?
98Chapter 18 Economic Duties
427.2 Credit
9918.1 Economic Duties of Individuals
43Section 2 – the Capitalist System
10018.2 Duties of Government
44Chapter 8 Money
10118.3 Economic Duties of Government
458.1 Private Money
10218.4 Government Finance and Expenditure
468.2 Public Money
10318.5 Economic Justice
478.3 Bank Money
104Section 4 – the Nature of Society
488.4 Conclusion
105Chapter 19 Society as a Hierarchy
49Chapter 9 Banking
10619.1 The Elements of the Hierarchy
509.1 The Evolution of Banking
10719.2 Operation of the Hierarchy
519.2 The Business of Banking
108Chapter 20 Government in the Hierarchy
529.3 The Central Bank
10920.1 Society and Government
539.4 The Limitations of Credit
11020.2 Tradition in Society
549.5 Accumulation of Capital
11120.3 Conclusion
559.6 Savings
112Afterword
569.7 Contemporary Banking
113Glossary of Terms
57Chapter 10 Inflation
114Select Bibliography
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