Excerpt from The Economics of ForestryThe book is chie¿y devoted to a discussion of timber resources and the economics of cultivation. The economics of the transport and conversion of timber, a subject which is almost a clear field for inquiry, has been only lightly touched upon.Management and policy should not be governed solely by economic considerations. Nevertheless, to lay down a forest policy without first studying the total costs of producing timber and the prices that may be obtained for it is a reprehensible extravagance. The financial success of an industrial undertaking can only be judged when the process of production is completed, and, since the period between sowing and reaping in forestry is generally longer than the working life of a man, foresters escape the gruelling test of profit-making to which other cultivators are subjected. For this reason many foresters of established reputation have been able to show a disregard for the major considerations of economics that would have reduced them to bankruptcy in any other industry. Bearing this in mind I have attempted to present the economics of forestry in a form which may be useful in deciding questions of forest management and in determining forest policy.About the PublisherForgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.comThis book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully, any imperfections that remain are intentionally left to preserve the state of such historical works.