ABSTRACT
WAITING T HE many forms of human exertion put forth in pro-duction are separable into two kinds-Working and Waiting. There seems to be no fundamental difference of nature between the two; for the qualities of character
required in some parts of business management are closely similar to those exercised in saving. The distinction must be justified less by the nature of the exertion put forth than by the nature of the product or service to which each gives rise.
