Souxy Ecoxonty A safe and sure method dim Slums. ne Production a Falsing the without Goriiniy of Natio Social Structure, ore, existing. Industrial and" Distribution seldGnan Meo tasse, kes ante. Rider, London, 3/6.
This book purports to expound eco nomic doctrines based of "a rational political economy" said to been evolved by certain French writers in "collaboration with 3 number of others among whom is Included "Einstein." Judging from the petition which is appended to the boot for a "judilal commission to examine the "possibilities of menotary reform," the author is associated with Professor F. Soddy and other members of a Council which secks to abolish poverty and to secure "the removal of the main causes of eco-hornie warfare between the nations" These admirable aims cannot be impugned, but it is exceedingly doubt(ul Whether the proposals outlined their support in this book have even the merit of deserving examination. Recent events have not encouraged reliance on the theories of Social Credit propagandists. Dr. Sandeman's prescription for the escape of World from "war to prosperity" is not likely to command exemption from this preference for orthodox views—ea United States. In reviewing post-war Gnanelal history. ne perceives three periods. First of all that in which Considerations of monetary policy were regarded as. all-important, secondly, when monetary policy was Subordinated to the requirements rade; and thirdly, when the supremacy of rearmament requirements. was cetablished over considerations ut monetary policy and, as far as! they came into conflet, with the requirements of normal trade. The five countries principally experiene-Ing these three phases were Great Britain, the United States, France, Moly and Germany—but they were not alone.
Devaluation Must Come Pish, mesa a me Thcreage of the. ai 1 monelat Rotmneed than it wag ale, years, 90
"The conclusion is that devaluation will eventually have to be more @rastic and it will have to come sooner or later. So it is the height of absurdity to try and stabilize ox-changes at their present level. All eiurreney values are in the melting pot. Any attempt at establishing rigid aties between them is doomed to failure the moment it is realized rowing. sup eile most other iuinadequiate old "reserves which From the point at vigil of internat Herr? Staten ora steel acts culPeaPa aes Given there 'Taels ihe prospects. of 4 carly stabilization are anything' but He believes that the rise commodity prices will be more pronounced in Great Britain than in the that arlifleial stability has come into conflict with the requirements of] rational defence.
Turning to the political aspect of! this grim picture, Dr Einzig considfers that Germany owes her ascendancy on the Continent to the fnancial and political deterioration of France's power as the result of the prolonged defence of the franc. The: Mnaneiat causes and consequences of the Abysinnian War play their part in the general deterioration, The book Is, like its predecessor, exceptionally authoritative, and depressing though its conclusions are, is an indispensable work of reference to any student of present day
Text read from the printed page and cleaned; old type leaves the occasional error.