CONSUMPTION

in Economics, is applied to the making use of all products that have an exchangeable value. It is called productive if it directly conduces to the working-value of the consumer, and unproductive if it does not, but the distinction is a very fine one. Bread obviously ‘productive,’ and gla -beads are obviously ‘unproductive’; but a book or a picture may influence a worker for good, though it is called ‘unproductive.' Most problems ought to be viewed from the point of view of the consumer rather than COPERNICUS from that of the producer, because the one is a gauge of social needs and the other of individual profits.