of measurement which themselves are measurable. If this is too much to ask, then economics is not a science it is a dubious ritualistic art with the scope and the patter of astrology.
Gide in the impetus of his logic, actually went through and beyond his goal; in the first edition of his work on Political Economy he employs one fundamental factor, Labor, and five basic contributing agencies, namely:
Raw Material
Ground (or superficial area)
Time
Tools (or capital)
Environment
With creditable reluctance he then groups these under the three classic heads of Land (or Nature), Labor and Capital.[1] By applying the test of “exactness” it becomes obvious that only three of these are valid factors, and it is much more than a coincidence that these three—Labor (defining density), Ground (defining volume) and Time[2] (defining duration of effort), are the ultimate limits of any phase of energy and the essential factors of dynamics.
Let us examine Gide’s factors, one by one, and see where they lead us; for, barring his failure to consider the basic cost of overcoming resistance, his conception is more than comprehensive, and if we rearrange his factors we shall see that what he has proposed is to include the environment with the reaction, the crucible with its contents, and in addition has added one of the expected products, namely Capital.
Labor, or effort, is vital and under self-government as will be shown more fully later), is measurable in terms of population and is therefore a true primary factor.
Raw-material cannot be measured—
- ↑ “Principles of Political Economy,” Charles Gide. 1st Edition. Translation by E. P. Jacobsen. D. C. Heath & Co., Boston, 1892.
- ↑ At this stage in the argument the normal total exertion of effort to overcome resistance, in a region of self-imposed order, is assumed to be constant in relation to population. If a scientific unit is available, Time may also be used to measure relative effectiveness.
