Rogers James Edwin

Rogers James Edwin

Rogers, James Edwin Thorold (1823-go), English economic historian. Educated at King's College, London, and Magdalen College, Oxford. He became an ordained member of the Church of England and was for some time a curate near Oxford; but in 1870 he left the ministry. Although his education was mainly confined to the classics he became interested in political economy through the free trade and co-operative movements. He eventually became Professor of Economics and Statistics, first at London and then at Oxford. His main work is the seven-volume History of Agricultural Prices in England, J259-1793 (published between 1866 and 2002). This was a detailed collection of data based on original sources. The figures are interpreted in Six Centuries of Work and Wages (1884) and The Economic Interpretation of History (1883).

Roscher, Wilhelm (1817-94), German economist. He studied economics and political science at the University of G'ttingen and eventually became professor at the University of Leipzig, where he taught for forty-six years. He tried to illustrate the theories of the classical economists in historical terms. Although he published many works, the five volumes of his System tier Vomswirtsclzaft (1854) were the most influential.

Royalty, payment by a person or company to the owner of property or to the creator of original work for the privilege of using it commercially. It is essentially a method of sharing the revenue from the sales of a product between the company supplying the finance and marketing skin and the persons contributing property in the form of original work.

The royalty system is commonly used, for example, where an author is paid by a publisher a percentage of the selling price of a ; a landowner is paid by a mining company for the privilege of exploiting his land; a patentee is paid by a manufacturer for the right to reproduce his invention.

Rubber Exchange, in Britain the room where trading in rubber takes place, situated in the London Commodity Exchange in Plantation House in the City of London. Business is transacted between importers, brokers and dealers and is regulated by the Rubber Trade Association. Facilities are provided for trading in 'spot' supplies and supplies for forward delivery in a variety of grades. The Settlement House of the R.T.A. also provides clearing-house facilities to assist trading in standardized 'futures contracts (not normally completed by actual delivering of rubber), by means of which producers, merchants and manufacturers are able to reduce the risks arising from price fluctuations.

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Since then his writings have in turn been increasingly reinterpreted as a special case both by some followers and by some economists who had not wholly accepted his writings. The content of economics is in a state of change, and this site is therefore not a final statement of economic doctrine.

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