Page:The Economic Journal Volume 1.djvu/605

 The Athenian commonwealth at any rate was very different from any modern democracy. It was a mighty ruling corporation enriched by the labour of hundreds of thousands of slaves and the tribute of millions of subjects, a corporation which ensured to its members much unearned wealth, continuous political excitement, unbounded military glory, and  perpetual feast of artistic pleasure. How is a mpdern democracy to provide all these good things for forty, fifty, or sixty millions of people ? Even if the socialist ideal were to be rigorously realized, it would secure to every citizen, not Persian trophies or Panathenaan feasts, but the privilege o{ spinning four hours a day in a State factory and a Bank holiday about once every month. F.C. MONTAGUE Problem of Poverty: of the Poor. By J. A. HOBSON, M.A. (University F, xtension Series). An Inquiry into the Industrial Condition Methuen and Co. PURE economic theory has been hitherto more successful in treating the mechanics of wealth than the pathology of poverty. As we descend in the scale to the consideration of the effects on a low-paid industrial class of small changes in quantity or quahty of income, or of particular modes of distribution and consumption we need a new method or at least a more powerful calculus. The few assumptions about human motives which do duty in the general theory of competition are insufficient and even misleading data for the deter- ruination of such problems as here confront us: such problems for example, the building up of the standard of living, the reaction on efficiency of changes in remuneration, or the effect of race character- istics and class loyalty on the features and effects of competition. Accordingly a great amount of energy has been devoted of late years to the detailed and thorough study of contempo.rary industrial facts. At present this study is in its infancy. The results so far obtained are scattered up and down in various articles, monographs, reports, and blue books, or works of research as yet incomplete. What part these investigations will have in a future scientific reconstruction it is as yet too soon to say. The ground has only just been broken, and many provisional conclusions at present accepted are likely to be upset by future research. But many are convinced that it must be by this road that we shah attain, if at all, to a scientific view of the economics of poverty. In the present half developed stage of investigation Mr. Hobson has attempted a bold task in trying to weld together the disjointed fragnnents'of un-completed research into the compact form of a University extension manual. But whether or not the state of the science warrants the incorporation of its results in a teaching text- book, the author has certainly performed the task he has undertaken with great pains and ability.