Economics for Helen

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About this book

The book is titled Economics for Helen. A chapter called The Process of Production recalls how the production of wealth takes place through the combination of three things, land, labour and capital. The text says every community in history has, at all times, lived under the idea of a minimum standard of subsistence. The Minimum Standard of Subsistence is called the first division in the wealth produced.

A speaker in the text says that a foreigner, having special advantages for a kind of production, brings in cheaper produce and offers it for sale to Englishmen. In a horse example the neighbours will be willing to give the owner much more than 20 or 25 sacks of wheat, and may offer as much as 50 sacks, or 20 sheep, or 100 loads of wood. The text says that Worth, the ability to get other wealth in exchange, constitutes true Economic Wealth.

About the author

Hilaire Belloc

Joseph Hilaire Pierre René Belloc was a French-English writer and political activist. Belloc was considered one of the most versatile authors of the 20th century, producing essays on history, politics and economics as well as poetry, travelogues and satire. His Catholicism had a strong effect on his works.