Page:The Economic Journal Volume 1.djvu/464

 44'2 THE ECONOMIC JOURNAL them nust be xvrong, The different forms of the "residual claimant" theory, by making a false claim to show simply and clearly "how it is done" ha ge blocked progress in economic science,' Distribution as Determined by a Law of Rent, By JOHN B, CLARK, Marshall's Principles of Economics, By Dr, AVoLF WAON,R, Most importa, nt as expressing approbation on the part of a leading German economint of the English classical school generally, and m par- ticular of the greatest living representative of that school, Dr, Wagner protests emphatically against the contemptuous tone assumed towards Ricardo and his successors by ' the extreme representatives of the historical school' ' the hot-heads of the younger German school,' Dr, Wagner is in accord with Prof, Marshall as to the method of treating 'problems which, partly from their very nature, and partly because of the unmanageable mass of the inductive material, cannot be solved by the method of historical and statistical induction,' ' I agree with Prof, Marshall almost everywhere,' says Dr, Wagner, He refers with en- thusiasm to' the admirable, just and convincing note on Ricardo's doctrine of cost of production,' the author of which, says Dr, Wagner, insists rightly, as it seenis to me, on the dominant nnportance of the law of cost of production, especially in reference to supply-value,' The most serious exceptions to the general agreement between the Gemnan and English leaders appear to be; first, that I)r, Wagner is not certain about the advantages of the mathematical method ;, second, that he desiderates considerable additions to Prof, Marshall s work, 'There should be a consideration of industry in general (IVirthschaft), of the industry of a given community, of populati.o,n and, industry in their mutually dependent relations, of the organization of industry, the State, and the legal foundations which underlie industrial life, slavery, freedom of person, the law of property,' The Gild Merchant in Englaut, By the Rev, W, CUNOnA, D,D. (Published simultaneously in the Economic Review), Among the Notes and Memoranda may be remarked a lively pass,age between Miss Collet and Mr, James Bonar, relative to the view (attributed by Dr, Bonar to a recent writer) that the raising of the standard of living is the only way of rais, in, g wages, There is a useful Appendix summarizing the Social and Economic Legislation of the States in 1890, Political Science Quarteyly, 1891, March, Compulsory Insurance in Germany, By B, W, WELLS, A review of what the system secures and what it costs leads to the conclusion: ' these laws are not likely, and ! do not believe that they were designed, to benefit either the capitalist or the labourer,' They may be successful politically in checking insubordination, impeding emigration, binding the workman by selfish ties to the State, Railroad Problems in a Western State, By Professor A. G. WARNER, Marshall's Principles of Economics. By Professor JON B, CLX_. High encomiums upon Prof. Marshall's work a a whole are ac- companied with severe reflections on par;icua.r passgges, especially the