Page:Indian Journal of Economics Volume 2.djvu/146

 184 REVIEWS OF BOOKS eeonomio development. A combination of the Allies in trade policy must be evolved from careful investigations and a gradual process of experiment towards the desired end. hz 1Vw Protectionism. By J. A. Hosso. London: T. Fisher Uuwiu. 1916. pp. xx, 15. Price s. 6& et. This interesting little book is a critical examiuatiou of New Protectionism advocated at the Paris Economic Confer- euee, recommending and Self-sufiieieney against the Central New Protectionists a scheme o! Economic for the Allied Nations Powers which are now Independence of Europe as at war. The under the false plea of 'Defence' wish to split Europe into two hostile camps of commercial rivals and this "economic war after the war" is to be fought with the weapons peculiar to Protectionists. This aggressive program of national' defence is, according to Hobson, not on. ly f.oolish but criminal. This. policy .of economic n..a!i.on- ahsm m the name of defence s 'a crime against cvthsa- tiou'; and in the last chapter entitled "The Open Door," Hobson gives a constructive program which would remove the causes of economic antagonism among nations and bring about the new conditions of international intercourse ou liues of 'fair competition and fruitful .co-operation.' The author starts with exposing the common errors of the Protectionist school of Chamberlain and takes his reader along with him iu showing that "protection sets the pro. dueer against consumer and trade against trade, locality against locality, capital against labour, laud against both, and lastly nation against nation, falsely represented as economic corporations." With his usual clearness and lucidity of style Hobson succeeds iu proving that the growth o[ Protetlonis.n in the United States, France and Germany is due to th. orguis.d political pressure of powerful manufacturers brought governments with the aud railroad facilities. In the chapter on author raises the to bear on object of their respective national securing tariffs, bounties "The Tangles of praetie.l difficulty of a Tari.ff/', the harmommng the conflicting interests of the British Isles with the rest of the British Empire; the interests of the Empire with the Allied nations; the application of general tariff to neutrals, and the difficulties of excluding enemy goods which may