Excerpt from Institutes of Economics: A Succinct Textbook of Political Economy for the Use of Classes in Colleges, High Schools and Academies General, national, or cosmic wealth is not merely the summed possessions1 of individuals and mercantile corporations. Immaterial2 wealth and public property must be reckoned in, and either titles or the things to which they entitle omitted.3 Valid titles held by per sons in one land to values in another are, however, part of the first land's wealth; but all such rights have to be excluded from an inventory of the world's wealth. In estimating general wealth the test of exchange4 value has but very limited application. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.