Economics Volume II: Modern Economic Problems

A scientific publication written during the early 20th century. The volume addresses practical issues in economics, guiding readers through the complexities of modern economic challenges related to resources, monetary systems, banking, trade, and the labor market, indicating the interconnections between economics, politics, and social dynamics. At the start of the book, the author sets the stage by discussing the nature of politico-economic problems that have always existed and are particularly pronounced in contemporary American society. Fetter emphasizes the shift from stable traditions to rapid change, compelling society to confront new economic issues. He outlines the structure of the book, which will delve into various practical problems in economics, such as the material resources of a nation, the role of money, banking functions, taxation, wage issues, and the organization of industries. This introductory section provides a framework for understanding the breadth of economic questions influenced by societal factors, revealing the underlying principles that connect individual and collective economic choices.