Page:The Economic Journal Volume 1.djvu/627

 605 between things which give a momentary and things which give a lasting pleasure; the distinction between things which give pleasure to one or two persons and things which give pleasure to an undefined number these and other distinctions are relevant, not only to the moral but also to the economic consideration of luxury. For the economist expenditure on luxuries means expenditure which is not productive of new wealth. But between the expenditure which is obviously reproductive and the expenditure which is obviously not productive there are many degrees of expenditure more or less productive. A strictly economic examination of these modes of ex- penditure would have been highly instructive. It is a pity that M. de Seneuil should have preferred to give us Franklin's story about the bonnets and a description from Lalnpridius of the luxury of Elagabulus. The biographical notices in this number are very well done. M. de Molinari contributes an appreciative notice of Malthus. He dis- tinguishes clearly the different forms of the doctrine of population set forth in the earlier and later edit, ions of the Essay. He rejects a piece of scandal which we hope to see adopted by unfriendly critics in our own country that when Malthus went to call upon Sismondi at Geneva he was accompanied by eleven daughters. M. de Molinari also notices the fact that Malthus anticipated Ricardo's theory of rent. M. Raffalovitch gives a good sketch of the life of Liot and a very fair summary of his views, almost without criticism. The life and writings of Le Play are sympathetically discussed by Messieurs Michel and Gurin. ' F.C. MONTAGUE Dictionary of Political Economy. Edited by R. H. INGLIS PAr,GSAVr., F.R.S. First Part. Abatement--Bede. London: Macmillan and Co. 1891. FoR some time past it has been known to economic students that an attempt was being made to satisfy a want which had long been felt; and that it was not to be left to France or to Germany alone to produce a dictionary on a subject of which England may perhaps claim to be the classic home. Both the French and the German dictionaries of political economy which are now in course of publica- tion, form important additions to the contributions made by those countries to the study of economics; but Mr. Palgrave's dictionary, of which the first part is now before us, is based on an independent plan. It is described on the title page as a ' Dictionary of Political Economy containing articles on the main subjects usually dealt with by economic writers, with explanations of legal and business terms which may be found in their works, and short notices of deceased English, American, and Foreign Economists, and their chief contributions to Economic Literature.' In the plan of the work prefixed to this first part, Mr. Palgrave states that ' his aim is to place in the hands of the reader, brief, carefully arranged, and well-digested statements, which may