Transcriber’s Note: Italics are enclosed in _underscores_; boldface text is enclosed in =equals signs= (but there is an actual equals sign in Footnote 1). Additional notes will be found near the end of this ebook. ECONOMICS FOR HELEN ECONOMICS FOR HELEN BY HILAIRE BELLOC [Illustration] J. W. ARROWSMITH (LONDON) LTD. 6 Upper Bedford Place, Russell Square, London THE FIRST EDITION _of this book was printed on Hand-made Paper (Medium 8vo) and consisted of 265 numbered copies, of which 250 were for sale. It was published in March, 1924._ _This_, THE SECOND EDITION _(Crown 8vo), was also published in March, 1924_. Printed in Great Britain by J. W. ARROWSMITH LTD., 11 Quay Street, Bristol Contents PART I THE ELEMENTS PAGE I WHAT IS WEALTH? 10 II THE THREE THINGS NECESSARY TO THE PRODUCTION OF WEALTH-- LAND, LABOUR AND CAPITAL 15 III THE PROCESS OF PRODUCTION 27 IV THE THREE PARTS INTO WHICH THE WEALTH PRODUCED NATURALLY DIVIDES ITSELF--RENT, INTEREST, SUBSISTENCE 33 V EXCHANGE 52 VI FREE TRADE AND PROTECTION 61 VII MONEY 66 PART II POLITICAL APPLICATIONS INTRODUCTION 87 PROPERTY--THE CONTROL OF WEALTH 95 THE SERVILE STATE 109 THE CAPITALIST STATE 115 THE DISTRIBUTIVE STATE 124 SOCIALISM 132 INTERNATIONAL EXCHANGE 141 FREE TRADE AND PROTECTION AS POLITICAL ISSUES 150 BANKING 167 NATIONAL LOANS AND TAXATION 189 THE SOCIAL (OR HISTORICAL) VALUE OF MONEY 201 USURY 217 ECONOMIC IMAGINARIES 230 INDEX 243 Part I THE ELEMENTS THE ELEMENTS