Part I gives a general survey of the evolution of industrial society; Part II treats specific problems which are problems of industrial evolution. Richard T. Ely (1854-1943) entered Dartmouth College and later Columbia University, where he graduated in 1876. He received his Ph.D. from the University of Heidelberg. In 1881 he was appointed to the chair of Political Economy at The Johns Hopkins University, which he retained until 1892 when he went to the University of Wisconsin as the first Director of the School of Economics, Political Science and History. He was the teacher and mentor of both John R. Commons and Wesley C. Mitchell. He was the author of numerous books and journal articles, and a founder of the American Economic Association (1885).
