In 1908 Wright was awarded the David Ames Wells Prize for 1907–1908 for his thesis "Wool-Growing and the Tariff.

He explained: The approach to the study of economic history that dominates the presentation of the subject in this volume is that of the economist whose immediate and primary function is to study the production and distribution of wealth with the objective of learning how the nation's economic progress can be promoted and its standard of living advanced.

Although the narrative should provide such knowledge of the general background of economic history as is needed for most purposes in the interpretation of political history, and has frequently been turned aside to indicate the reactions thus involved, this has been a secondary rather than a primary consideration in the selection and organization of the material.

[5]Wright regarded as the fundamental problem" of his study, the question of "How the national income has been increased and distributed.

"[6] Williamson (1941) commented, that "Within the limits of some 1120 pages Professor Wright has included an account of the major factors contributing to our economic development as well as a description of many of the minor influences.