In revising the book for a second edition I have carefully considered all the published criticisms of it that I have seen, and also the criticisms that have been kindly sent ine in private by several persons---among whom I ought especially to thank Mr F. Y. Edgeworth, Mr Carveth Read, and Mr P. H. Wicksteed. I have usually modified, and sometimes rewritten, the passages criticised: but I have not altered my views on any point of fundamental importance. I have also endeavoured to shorten and simplify several parts of my exposition which appeared to me needlessly prolix or complicated: and have thus been able to make room for a certain amount of new matter without materially adding to the size of the book. Further, I have been aided in my revision by some of the books on Political Economy which have appeared since my first Edition; to some of these I have had occasion to refer by name in notes: of those to which I have not so referred the most important is the Handbuch der politischen Oekonomie, edited by G. Schönberg. I must also thank Mr Keynes and Professor Foxwell for useful suggestions which they have made, at my request, on certain sections of the book while it was passing through the press.
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