This thorough and comprehensive book examines the role that institutions play in economic life. The discussion begins with common values, shared traditions and individual habits which have their roots in the past. It goes on to consider consumer preferences, needs and wants, altruism,...

1. Introduction -- 2. The Webbs -- 3. The Economics of Deprivation -- 4. Unemployment -- 5. Cooperation -- 6. The Labour Factor -- 7. Decline and Fall -- 8. Communism -- 9. Rights and Duties -- 10. The Legacy of the Webbs.