A large and growing number of youths from school enter our Universities every year with the expressed intention of training themselves for posts in the world of business and public administration. But most of us can count on the fingers of one hand the young business men who have rehnquished lucrative appointments in factory or office in order to share the life of an undergraduate or to complete their training for more responsible posts. The author of this volume spent several years in the “stockbroking business” before entering the University of Glasgow. I recall that at first the attractions of philosophy were stronger than those of Economics, but the war compelled him to postpone a final decision. As in the case of hundreds of service men, wartime experience influenced Mr. Whyte’s judgment, as, after a distinguished career at the University of Leeds, he joined the ranks of teachers of Economics The substance of this book was presented for the degree of M.A.