The aim of this volume is to work out an evolutionary and behavioristic, or rather volitional, theory of value. It was commenced thirty-five years ag… - John R. Commons

While mere process of thinking is the process of habits, ideals, definitions, investigations, classifications, valuations and behavior, due process of thinking, which is due process of law, is the process of correct habits, right ideals, true definitions, sincere investigation, reasonable classification, reasonable value, and justice; whereas its opposite, undue process, is perverse habit, wrong ideals, double meanings, partial investigation, class legislation, confiscation and injustice.

It would not be incorrect to say that all capital is invisible value, in that it is the present value, not of physical things, but of the hopes of the future aroused through confidence in the now invisible but expected transactions of the future.

The Chinese and Japanese are perhaps the most industrious of all races, while the Chinese are the most docile. The Japanese excel in imitativeness, but are not as reliable as the Chinese. Neither race, so far as their immigrant representatives are concerned, possesses the originality and ingenuity which characterize the competent American and British mechanic.