Chester W. Wright

"The materials collected in this volume are intended to acquaint the student with economic principles as they are manifested in the tangible facts of economic life. A few extracts of primarily theoretical character have been included to represent important aspects of contemporary or historic thought; but for the most part the selections are not so much authoritative formulations of economic laws as concrete case-material embodying such laws, or affording a background of information which the systematic treatises on economics can hardly give and which the teacher certainly cannot often assume that his students will possess."

"The approach to the study of economic history that dominates the presentation of the subject in this volume is that of the economist whose immediate and primary function is to study the production and distribution of wealth with the objective of learning how the nation's economic progress can be promoted and its standard of living advanced. It can be called the functional approach to economic history. Although the narrative should provide such knowledge of the general background of economic history as is needed for most purposes in the interpretation of political history, and has frequently been turned aside to indicate the reactions thus involved, this has been a secondary rather than a primary consideration in the selection and organization of the material. Some material has been included because it served certain of the other objectives mentioned in the introductory chapter, though for the most part these objectives are served also by the material primarily of significance in relation to the major objective."

"Within the limits of some 1120 pages Professor Wright has included an account of the major factors contributing to our economic development as well as a description of many of the minor influences. While the main emphasis is upon the evolution of economic institutions, attention is given to noneconomic factors which have affected economic life, and to the influence, in turn, of economic forces upon general historical development."