ty, who was kind
enough to read through the proofs of a large portion of this book, and
to make many serviceable corrections and suggestions.

JOHN A. HOBSON.

CONTENTS.

CHAPTER I.

PAGE
INTRODUCTION 1

Section.
1. Industrial Science, its Standpoint and Methods of Advance.
2. Capital as Factor in Modern Industrial Changes.
3. Place of Machinery in Evolution of Capitalism.
4. The Monetary Aspect of Industry.
5. The Literary Presentment of Organic Movement.

CHAPTER II.

THE STRUCTURE OF INDUSTRY BEFORE MACHINERY 10

1. Dimensions of International Commerce in early Eighteenth
Century.
2. Natural Barriers to International Trade.
3. Political, Pseudo-economic, and Economic Barriers--
Protective Theory and Practice.
4. Nature of International Trade.
5. Size, Structure, Relations of the several Industries.
6. Slight Extent of Local Specialisation.
7. Nature and Conditions of Specialised Industry.
8. Structure of the Market.
9. Combined Agriculture and Manufacture.
10. Relations between Processes in a Manufacture.
11. Structure of the Domestic Business: Early Stages of
Transition.
12. Beginnings of Concentrated Industry and the Factory.
13. Limitations in Size and Application of Capital--Merchant
Capitalism.

CHAPTER III.

THE ORDER OF DEVELOPMENT OF MACHINE INDUSTRY 44

1. A Machine differentiated from a Tool.
2. Machinery in Relation to the Character of Human Labour.
3. Contributions of Machinery to Productive Power.
4. Main Factors in Development of Machine Industry.
5. Importance of Cotton-trade in Machine Development.
6. History refutes the "Heroic" Theory of Invention.
7. Application of Machinery to other Textile Work.
8. Reverse order of Development in Iron Trades.
9. Leading Determinants in the General Application of
Machinery and Steam-Motor.
10. Order of Development of modern Industrial Methods in the
several Countries--Natural, Racial, Political, Economic.

CHAPTER IV.

THE STRUCTURE OF MODERN INDUSTRY 88

1. Growing Size of the Business-Unit.
2. Relative Increase of Capital and Labour in the Business.
3. I