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 484 AMERICAN ANTHROPOLOGIST [n. s., i, 1899

distribution. More fully defined, it is the science which treats of the nature of property, the accumulation of property as wealth, the use of wealth as capital, the use of wealth as investment, and the use of wealth as endowment, together with the relations of property, wealth, capital, investment, and endowment to corporations.

There are thus five elements for consideration in economics. First, property ; second, wealth ; third, capital ; fourth, invest- ment ; fifth, endowment, which give rise in every one to a group of corporations. The elements will be considered first.

Property. — We have seen that labor is human activity exer- cised for the purpose of producing welfare. In producing welfare industry produces property.

We have already shown that the wants of men are wants of pleasure, welfare, justice, expression, and wisdom. Then we have shown that the wants of men for pleasure are supplied by esthetic arts l ; we have also shown that the wants of men for welfare are supplied by industrial arts * ; we are now attempting to show that the wants of men for justice are supplied by institu- tional arts ; we shall hereafter show that the wants of men for ex- pression are supplied by linguistic arts; and after that we shall show that the wants of men for wisdom are supplied by instructional arts.

In all these classes of arts something is produced for con- sumption, and we have already learned that the something pro- duced does not immediately reach its entelic purpose, but may remain in a state of disuse until an event of production changes it in some manner so that it may reach its entelic consumption.

During all these stages it remains as property. This is true of the conditions of all property of whatever nature. Then there

��1 " Esthetology, or the Science of Activities Designed to give Pleasure " {American Anthropologist^ N. S., January, 1899).

'"Technology, or the Science of Industries" {American Anthropologist \ N. s., April, 1899).

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