ALBERT

Notes: Fictitious Centralism in large enterprises. In order that each of the threads of an increasingly complicated business enterprise may be kept in hand, they are all actually made to converge at the highest level. But this centralisation is fictitious; for, in reality, it leads to an overburdening of the man at the top, who is thus rendered incapable of performing his proper function—namely, to take decisions. Instead, he becomes the weakest link in the routine.Imperfect delegation, i. e., the delegation of matters for treatment without simultaneous surrender of competence, condemns those in the middle grade to subaltern standing, in which they too are unable to take any decision or assume the responsibility that goes with the taking of decisions. The typical result is that nobody decides, that—to exaggerate slightly—the life of an industrial concern is controlled not by definite volition but by the law of cause and effect.Imperfect delegation is one of the causes of the hypertrophy and sluggishness of the internal bureaucracy of business concerns. The fact of clinging to theoretical powers which in reality are not exercised has, for instance, the result that the modern forms of accounting practice not only fail to give the internal life of a big enterprise the elasticity and commerciality which they quite well could have given it, but, instead, lead to a multiplication of bureaucratic processes.The negative effects of the fictitious centralism which distinguishes the industrial system from the great organisations of the past (e. g. the ancient polis and the feudal state, both of which tended to delegate too many rather than too few functions) are certainly well known, yet it seems impossible to overcome it. This fact is only to be explained in the light of the history of ideas (“Geistesgeschichte”). From his predecessor, the capitalistic entrepreneur, the present-day manager has taken over the automatic equation of what he does with work, and the consequent justification of his social position in his own eyes and those of society. This attitude, which was alien to most of the leading groups in history, prevents him from extricating himself from the vicious circle which he has got into as the result of fictitious centralism.

Notes: AllanM. Cartter. The Redistribution of Income in Postwar BritainKarlW. Deutsch. Nationalism and Social Communication: An Inquiry into the Foundations of NationalityPierre Samuel Du Pont DE NemoursOn Economic CurvesThe Economic Development of MalayaJ. Goudriaan. Economie in 16 bladzijdenDouglas C. Hague and Alfred W. Stonier. The Essentials of EconomicsBert G. Hickman. The Korean War and United States Economic Activity, 1950–1952C. Hildreth and F. G. Jarrett. A Statistical Study of Livestock Production and MarketingDon D. Humphrey. American ImportsEmile James. Histoire sommaire de la pensée économiqueEmile James. Histoire de la pensée économique au XXe StècleNicholas Kaldor. An Expenditure TaxPaul Keller. Dogmengeschichte des wohlstandspolitischen InterventionismusHarvey Leibenstein. A Theory of Economic-Demographic DevelopmentFriedrich A. Lutz. Das Problem der WirtschafsprognosenWilliam Petersen. Planned Migration—The Social Determinants of the Dutch-Canadian MovementVilles et campagnes—Civilisation urbaine et civilisation rurale en FranceWilliam L. Westermann. The Slave Systems of Greek and Roman Antiquity

Notes: Finances comparées. Etats- Unis, France, Grande-Bretagne, Suisse, U. R. S. S. Par HENRY LAUFENBURGER. Industrialismen. Den Ekonomiska Utvecklingen Sedan 1750. Von ELI F. HECKSCHER. Plan your own Industries. A Study of Local and Regional Development Organizations. By M. P. FOGARTY Hobhouse Memorial Lectures. 1930–1940. Geoffrey Cumberlege. Income and Employment. By THEODORE MORGAN. Grundlagen der theoretischen Volkswirtschaftslehre. Von HEINRICH V. STACKELBERG.

Notes: KENNETH J. ARROW, LEONID HURWICZ and HIROFUMI UZAWA. Studies in Linear and Non-Linear Programming. (Stanford Mathematical Studies in the Social Sciences, n.) Stanford, California, 1958.FRITZ BAADE. Die deutsche Landwirtschaft im Gemeinramen Markt (Germany's Agriculture and the Common Market). Baden-Baden 1958. August Lutzeyer. 232 pp. 19.80 DMALICE BOURNEUF. Norway: The Planned Revival. (Harvard Economic Studies, Vol. CVI.) Cambridge, Mass., 1958.RALF DAHRENDORF. Homo Sociologicus. Ein Versuch zur Geschichte, Bedeutung und Kritik der Kategorie der sozialen Rolle. Koln und Opladen 1959. Westdeutscher Verlag. 72 p. DM 4.J. P. DAVISON, P. S. FLORENCE, B. GRAY, and N. S. Ross. Productiuity and Economic Incentives. London 1958. Allen & Unwin. 306 pp. 35s.FELIKS GROSS. The Seizure of Political Power in a Centuv of Revolutions. New York 1958. Philosophical Library. XXVII, 398 S.JAMES M. HENDERSON and RICHARD E. QUANDT. Microeconomic Theory: A Mathematical Approach. New York/Toronto/London, I 958. McGraw-Hill. XXII, 291 pp. 58s.W. G, HOFFMANN. The Growth of Industrial Economies. Manchester 1958. Manchester University Press. IX, 179 pp. 25s.HERBERT KOTTER. Landbevolkerung im sozialen Wandel (Rural Population and Social Change). Ein Beitrag zur liindlichen Soziologie. Diisseldorf 1958. Eugen Diederichs Verlag. 183 pp. 13.80 DMROBERT M. LICHTENBERG. The Role of Middleman Transactions in IVorld Trade. National Bureau of Economic Research, Occasional Paper No. 64. New York 1959. XVI, 86 pp. $1.50INGVAR SVENNILSON. Prospects of Development in Western Europe, 1955–1975. Stockholm 1959. The Industrial Institute for Economic and Social Research. 85 pp. (stencil.)SHIGETO TSURU. Essays on Japanese Economy. Tokyo 1958. Kinokuniya Bookstore. 241 pp.ERNEST W. WILLIAMS, Jr. and GEORGE NOVAK. Freight Transportation in the Soviet Union: A Comparison with the United States. New York I 959. National Bureau of Economic Research, Occasional Paper 65. 38 PP. $0.75A. J. YOUNGSON. Possibilities of Economic Progress. London I 959. Cambridge University Press. x, 325 pp. 32s. 6d.The Development of Manufacturing Industry in Egypt, Israel and Turkey. United Nations, Department of Economic Affairs.

Notes: Paul A. Baran. The Political Economy of Growth. New York 1957. Monthly Review Press. 308 p. $5.-Martin Beckmann, C. B. McGuire, and Christopher B. Winsten. Studies in the Economics of Transportation. Cowles Commission for Research in Economics. New Haven 1956. Yale University Press. 232 p. $4.-Robert N. Bellah. Tokugawa Religion. The Values of Pre-Industrial Japan. Glencoe, Illinois, 1957. Free Press. 259 p. $5.-Erik Boettcher (Hg.). Sozialpolitik und Sozialreform. Ein einfüUhrendes Lehr- und Handbuch der Sozialpolitik. TüUbingen 1957. Mohr (Siebeck). X, 344 p. Paper 13 Dm, Cloth 17 DMDomenico Demarco (Ed.). Studi in onore di Antonio Genovesi nel bicentenario della istituzione delta Cattedra di Economia. (Under the auspices of the Faculty of Economics and Commerce of the University of Naples and of the Salerno Chamber of Commerce.) Naples 1956. L'Arte Tipografia. 348 p.Pierre Dieterlen. L'investissement. Avec observations de Tibor Scitovsky et Jacques PeyréAga. Paris 1957. RiviéGre. 368 p. 1200 fr.fr.Milovan Djilas. The New Class. An Analysis of the Communist System. New York 1957. Frederick A. Praeger. 214 p. $3.95Bruno Kiesewetter. Statistiken zur Wirtschaft Ost-und SüUdosteuropas, Teil III: Handel und Verkehr. (Deutsches Institut füUr Wirtschaftsforschung, Sonderhefte n.f. Nr. 33.) Berlin 1957. Duncker & Humblot. 192 S. inkl. 177 S. Tabellen. 30 DMHarold Koontz und Richard W. Gable. Public Control of Economic Enterprise. New York/Toronto/London, 1956. McGraw-Hill. XII, 851 S. $7.-Lucien Laurat. Bilan de vingt-cinq ans de plans quinquennaux (1929–1955). Paris 1955. Les Iles d'Or. 263 p.Charlotte Leubuscher. Bulk Buying from the Colonies. A Study of the Bulk Purchase of Colonial Commodities by the United Kingdom Government. (Issued under the auspices of the Royal Institute of International Affairs.) London/New York/Toronto 1956. Oxford University Press, XI, 206 p. 30 s.Peter Meyer-Dohm. Der westdeutsche BüUchermarkt. Eine Untersuchung der Marktstruktur, zugleich ein Beitrag zur Analyse der vertikalen Preisbindung. Stuttgart 1957. Gustav Fischer Verlag. 203 S. 14 DMMichel Moret. L‘éAchange international. Paris 1957. RiviéGre. 371 p. 1300 fr.fr.Giuseppe Ugo Papi. Teoria della condotta economica dello Stato (The Theory of Economic Conduct of the State). Milano 1956. GuiffréG. XVI, 410 p. L. 2500Rolf Sannwald and Jacques Stohler. Wirtschaftliche Integration. Theoretische Voraussetzungen und Folgen eines europäUischen Zusammenschlusses. (Publications of the List Society Vol. 8, edited by Harry W. Zimmermann.) Kyklos-Verlag, Basel, and Mohr (Siebeck), Tubingen, 1958. XIV, 245 p. 20.50 DMDavid Savan. Newcomers from Israel. Research Committee Canadian Jewish Congress, Central Region. Toronto 1955. 43 p. World Wide Jewish Migration, 1951–1957. Research Department, American Council for Judaism. New York 1957. 17 p.W. M. Scammell. International Monetary Policy. Londres 1957. Macmillan. XIV, 402 p. 40s.Arthur M. Schlesinger, Jr. The Age of Roosevelt, Vol. 1: The Crisis of the Old Order, 1919–1933. London/Melbourne/Toronto 1957. Heinemann. XI, 569 p. 42s. ($6.-)Otto Veit (unter Mitwirkung von O. Peters, B. Stadermann und H. BöUdler). Die veräUnderte WäUhrungspolitik und ihre Folgen. Institut füUr das Kreditwesen, Johann Wolfgang Goethe-UniversitäUt. Frankfurt a.M. 1957. Fritz Knapp Verlag. 182 S.Josua Werner. Die WirtschaftsverbäUnde in der Marktwirtsckaft. ZüUrich und St. Gallen 1957. Polygraphischer Verlag. 231 S. sFr. 22.80Hans WüUrgler. Malthus als Kritiker der Klassik. Ein Beitrag zur Geschichte der klassischen Wirtschaftstheorie. Winterthur 1957. Verlag P. G. Keller, XXIV, 200 p. The Nature of Conflict. Studies on the Sociological Aspects of International Tensions. By the International Sociological Association in collaboration with Jessie Bernard, T. H. Pear, Raymond Aron, Robert C. Angell. Paris 1957. Unesco. Social and Political Thought in Byzantium, from Justinian I to the Last Palaeologus. Passages from Byzantine writers and documents. Translated with an Introduction and Notes by Ernest Barker. Oxford 1957. Clarendon Press, XVI, 240 p. 30s.

Notes: JohanÅkerman. Structures et cycles économiques. Aus dem Schwedischen übersetzt von B. Marchal und G. Augot. Paris 1955–1957. Presses Universitaires. Bd. 1 (236 S.) fFr. 1200, Bd. 2 (S. 237–427) und Bd. 3 (S. 428–623) je fFr. 960.Tibor Barna (ed.). The Structural Interdependence of the Economy. Wiley, New York, and Giuffré, Milan, 1956. 429 p. $7.50.Arthur R. Burns. Comparative Economic Organization. New York 1955, Prentice-Hall, XV, 766 p.Colin Clark. The Conditions of Economic Progress. Third edition. London 1957. Macmillan. XIV, 720 p. 70s.A. C. L. Day. Outline of Monetary Economics. Oxford 1957. Clarendon Press. 559 p. 35s.Evsey D. Domar. Essays in the Theory of Economic Growth. New York 1957. Oxford University Press. 272 p. $ 4.50.Marvin Frankel. British and American Manufacturing Productivity. Urbana, Illinois, 1957. University of Illinois. 130 p. $1.50.Heinz Haller. Finanzpolitik: Grundlagen und Hauptprobleme. (Hand-und Lehrbücher aus dem Gebiet der Sozialwissenschaften, hg. von Edgar Salin und Arthur Spiethoff †.) Mohr (Siebeck), Tübingen, und Polygraphischer Verlag, Zürich, 1957. 326 S. sFr. 21.75.Peter Heintz. Soziale Vorurteile: Ein Problem der Persönlichkeit, der Kultur und der Gesellschaft. Köln 1957. Verlag für Politik und Wirtschaft. 218 p. 12.80 DM.Lucien Laurat. Problèmes actuels du socialisme. Paris 1957. Les Iles d'Or. 198S.John R. Meyer and Edwin Kuh. The Investment Decision. An Empirical Study. (Harvard Economic Studies, Vol. 102.) Cambridge, Mass., 1957. Harvard University Press. 284 p. $6.-Roger Mols. Introduction à la démographic historique des miles d'Europe du XIVe au XVIIIe siècle. (Publications Universitaires de Louvain.) 3 vols. Gembloux 1954–1956. Editions J. Duculot. 1360 p. fr. b. 1100.Alfred Nydegger. Die wirtschaftliche Bedeutung der Allgemeinverbind-licherklärung von Gesamtarbeitsverträgen in der Schweiz. Zürich und St. Gallen, 1957. Polygraphischer Verlag. XIII, 190 p. Sw. Fr. 12.45.Jouko Paakkanen. Hintateorian realismi ja yritysten hintapäädtökset (English Summary: The Realism of Price Theory and the Price Decisions of the Firm.) Helsinki 1957. 135 p.Francesco Parrillo. Contributo alla teoria della politica, economica. (Collection Storia e dottrine economiche.) Torino 1957. Unione Tipografica-Editrice Torinese. XV, 303 p.Richard Stone. Quantity and Price Indexes in National Accounts. Published by the Organisation for European Economic Co-operation. Paris 1956. 120 p. IoS. ($1.50).Adolf Sturmthal (ed.). Contemporary Collective Bargaining in Seven Countries. Ithaca, New York, 1957. Institute of International Industrial and Labor Relations, IX, 382 p. $4.50. The Cotton Industry—Today and Tomorrow. Vorträge gehalten am Internationalen Baumwoll-Jubiläumskongress in Buxton, England, 1954. Internationaler Verband der Baumwoll- und verwandten Textilindustrien, Manchester. 288 S. Policies to Combat Depression. (A Report of the National Bureau of Economic Research, New York.) Princeton, N. J., 1956. Princeton University Press, 417 p. $ 8.50.

Notes: G. C. Allen. Japan's Economic Recovery. London 1958. Oxford University Press. XI, 215 p. 25s.Oskar Anderson. Probleme der statistischen Methodenlehre in den Sozialwissenschaften. Dritte, wesentlich umgearbeitete und erweiterte Auflage. Würzburg 1957. Physica-Verlag. 358 S. 24.50 dmJoe S. Bain. Barriers to New Competition. Cambridge, Mass., 1956. Harvard University Press. 329 p. $5.50Horace Belshaw. Population Growth and Levels of Consumption (with special reference to countries in Asia.) London 1956. Allen & Unwin. XXIX, 223 p. 25s.Mark Blaug. Ricardian Economics: A Historical Study. New Haven 1958. Yale University Press, X, 269 p. $5.–Gregory C. Chow. Demand for Automobiles in the United States. (Contributions to Economic Analysis XIII.) North-Holland Publishing Company. Amsterdam 1957. XI, 110 p. hfl. 10.–Robert Dorfman, Paul A. Samuelson and Robert M. Solow. Linear Programming and Economic Analysis. London 1958. McGraw-Hill. 525 p. 77s. 6d.P. T. Ellsworth. The International Economy (revised ed.). New York 1958. Macmillan. XI, 513 p. $6.75Milton Friedman. A Theory of the Consumption Function. National Bureau of Economic Research. Princeton University Press, Princeton 1957. XVI 243 P. $4.75John Jewkes, David Sawers et Richard Stillerman. The Sources of Invention. Londres 1958. Macmillan. 440 p. 31 s. 6d.William F. Kennedy. Humanist Versus Economist. The Economic Thought of Samuel Taylor Coleridge. Berkeley and Los Angeles 1958. University of California Press. 96 p. $2.–Francesco Kneschaurek. Die nationale Buchhaltung unter Berücksichtigung ihrer Anwendungsmöglichkeiten in der Schweiz. Zürich und St. Gallen 1958. Polygraphischer Verlag. 212 S. sFr. 27.45Heinrich Küng. Streiflichter zur schweizerischen Wirtschaftspolitik. (Veröffentlichungen der List Gesellschaft ≪ Stimmen der Praxis ≫, Band 1.) Zweite, erweiterte Auflage. Kyklos-Verlag, Basel, und Mohr (Paul Siebeck), Tübingen 1958. 239 S. 9.80 dmFran¸ois Le Lionnais (Hg.). La méthode dans les sciences modernes. Paris 1958. Editions Science et Industrie. 344 S. fFr. 3000.–R. Duncan Luce and Howard Raiffa. Games and Decisions—Introduction and Critical Survey. New York 1957. Wiley. 509 p. $8.75James E. Meade. The Control of Inflation. Cambridge, England, 1958. Cambridge University Press. 52 p. 5s.T. H. Pear. Personality, Appearance and Speech. London 1957. Allen & Unwin. 167 p.Joco Radakovié (ed.). Privreda FNRJ u periodu od 1947–1956 godine. (The development of the Yugoslav economy 1947–1956.) Beograd 1957. Ekonomski Institut fnrj. 396 p.

Notes: Recent theories of capitalism concentrate upon the defects of markets. The theories of Karl Polanyi and Bruno Seidel are examined in this article. In a broad survey of economic history since the middle ages, Polanyi concludes that the whole economic market system destroys the substance of society and creates disadvantages for all groups. Yet disintegration was halted through the principle of social protection which comprises all forms of collective economic actions, whether by groups or states. Yet, the author has failed to give a specific market analysis which would indicate how specific disadvantages arise in the process of pricing. The all comprehensive “social protection” contains so many diverse elements that one cannot infer from the principle how interventions have reformed the market system of capitalism.In his analysis of industrialism and capitalism, Seidel sees a conflict between the industrial and capitalist elements of our economy. Capitalist elements have been “tamed”, while we have been unable to control the industrial elements. Modern technology has become independent of capitalist property and markets. Industrialism has been economically beneficial and socially disintegrating. Deconcentration of large concerns and decentralization of large cities are proposed as necessary reforms. Interventions in markets spring from cartels of producers, organizations of farmers, unions of laborers, and the interference of states. The multitude of interventions is developing into a planned capitalism. The result of these interventions has been a greater degree of equality in the economic and social relationships among men. Control of capitalism was achieved through introducing social-ethical principles into the economy.The newer version of the defect theory limits control of the market system to the most recent period, and states some of the reasons why organized groups control their markets. The theory of social protection is limited in its scope; its economic, political and social impact upon capitalism is traced in detail. Yet missing is still a theory of deficient markets as well as of controlled markets. The future task of economic research is to provide an analysis of the different market sectors controlled by groups, of the monopoly of concentrated property, of the specific nature of social protection, and the economic role of big government in controlled capitalism.

Notes: The question how currency devaluation would affect the net terms of trade has been debated for many years, chiefly because one wanted to know what this change in the terms of trade would do to real national income, and also how this income change in turn would alter the trade balance. Yet, changes in the net terms of trade can have determinate effects on real income only if the productivity of resources is unchanged, and devaluation usually affects productivity through the resource reallocation which it induces; indeed, where there is no such reallocation the net terms cannot be affected by devaluation. Hence, even if the net terms should be adversely affected by devaluation, this may be associated with an improved use of resources which raises productivity enough to cause real national income to be increased rather than reduced. A deterioration of the net terms of trade may sometimes be a pre-condition for an increase in real national income as well as for an improvement in the balance of trade. The presumption is strong that the devaluation of an overvalued currency will lead to a more efficient allocation of resources. The contention that a deterioration of the net terms of trade will normally cause a reduction of the real national income and a worsening of the balance of trade by equal amounts must surely be rejected.The conceptual identity between real output and real income cannot be maintained when the terms of trade change. Clear analysis of the problems under discussion requires distinctions between “real output”, “real intake”, and “real income”. If the idea of a “change in the real balance of trade” is to make sense, it must relate to the difference between changes in real domestic output and real domestic intake. The socalled “primary burden” of devaluation may be interpreted as the fall in real intake when real output and terms of trade are unchanged; if there is any “secondary burden”, it need not be another reduction in real intake, but rather a reduction in real income. Since real output and real income may move simultaneously in different directions, it becomes necessary to ask on which of them the spending propensities—investment, consumption, imports, hoarding—are based. Depending on the incidence of changes in “income”, it will sometimes be real output, sometimes real income that will determine expenditures. Yet in most algebraic models there is just a simple Y for both.

Notes: The fact has been widely recognized that the present stagnation of social sciences is fraught with dangers for the physical existence of humanity. This premise being accepted, the article sets out to discover the factors hampering the development of social sciences. These, it is here suggested, have three sources: (1) the nature of the subject of enquiry; (2) the nature of the empiric method and (3) the limited applicability of the present-day social sciences to the life of the private individual.The difficulties attributable to the first source are two: the high degree of differentiation in human psychology and the inventive capacity of the human mind. Both of them have the effect of creating a pattern of behaviour distinguished by great variety and rapidity of change. Ensuing, to some extent, from the other two is the third characteristic, namely the fact that some of our lines of behaviour are incapable of being measured quantitatively. Under such conditions, the task of scientific analysis is obviously extremely difficult, and this accounts for the strong “post-ante” bias inherent in most of our present-day social sciences.The empirical method of analysis, so much in vogue at present, has contributed two additional difficulties of its own. These are: taxonomic approach and anti-normative inclination. The former is another way of saying that, unlike their predecessors in the 18th and 19th centuries, which operated on the implied assumption of the perennial uniformity of human behaviour, the present-day social sciences have adopted the method of dealing with each situation as a unique case. Consequently, the “social laws” derived from this procedure have only a limited validity.It was the very simplicity of the social sciences of the preceding two centuries that made them popular and gave them an influence over the actual shaping of public life, and, incidentally, it is the lack of such simplicity that so effectually prevents the social sciences of today from winning popularity. For it is manifest that, in the present state of social knowledge, an extremely important aim of social science—probably the most important of all its aims—namely, to help the individual to form a comprehensive and consistent outlook on life, is a dream of the very distant future.But, however formidable the difficulties in this field may be, the need for the social sciences of our day to produce a coherent synthesis is most pressing. This is so because of (1) the decline in the influence of religion, (2) the increasing capacity of man for self-destruction and (3) the existence of sharp political conflict between the communist and non-communist worlds. This necessity being admitted, a further problem arises. It is a question of popularizing the social sciences. For, assuming that our social sciences are, or will shortly be, capable of serving as a guide to the understanding of social life, it is obvious that unless such knowledge is widely spread it will remain useless. Here the main stumbling-block is the low earning power of social sciences. Thus it would appear that the prospects of solving the problems connected with the relative underdevelopment of our social knowledge are by no means hopeful.

Notes: Charles Albro Barker. Henry George. New York 1955. Oxford University Press, XVII, 696 p. $9.50. Soviet Economic Growth - Conditions and Perspectives. Abram Bergson, Editor. Evanston, Illinois, and White Plains, N. Y., 1953. Row, Peterson, VIII, 376 p.EdwinA. Bock. Fifty Years of Technical Assistance. Some Administrative Experiences of U. S. Voluntary Agencies. Chicago 1954. Public Administration Clearing House, X, 65 p. $1.50.NormanS. Buchananand HowardS. Ellis. Approaches to Economic Development. New York 1955. Twentieth Century Fund, XIV, 493 p. $5.00.E. M. Carus-Wilson. Medieval Merchant Venturers: Collected Studies. London 1954. Methuen. XXXII, 314 p. 30s.Harold C. Edey et Alan T. Peacock, National Income and Social Accounting. London 1954. Hutchinson's University Library, VIII, 224 p. 8s 6d.Maurice Halbwachs. Esquisse d'une psychologie des classes sociales. Paris 1955. Librairie Marcel Rivière. 238 p. ffr. 540.W. O. Henderson. Britain and Industrial Europe 1750-1870. Studies in British Influence on the Industrial Revolution in Western Europe. Liverpool 1954. University Press, VII, 255 p. 25s.Bruno Kiesewetter. Statistiken zur Wirtschaft Ost-und Südosteuropas. Teil I: Industrie, Teil II: Landwirtschaft. Deutsches Institut für Wirtschaftsforschung, Sonderhefte N. F. Nr. 33. Berlin 1955. Duncker & Humblot. 48 und 44 S. DM 7.50 und DM 7.20. Les ↞Sciences de la Politique↠ aux Etats-Unis; Domaines et Techniques. Recueil d'études sous la direction de Harold D. Lasswellet Daniel Lerner. Paris 1951. Armand Colin, XVI, 305 p.Ashok Mitra. The Share of Wages in National Income. 113 p., no publisher or price.Vilfredo Pareto. Allgemeine Soziologie. Ausgewählt, eingeleitet und übersetzt von Carl Brinkmann, besorgt von Hans Wolfram Gerhard. Tübingen 1955. J. C. B. Mohr (Paul Siebeck). IX, 263 S., Brosch. DM 17. -, Lw. DM 19. 80.Kjeld Philip. Inter-Governmental Fiscal Relations. Institute of Economics and History, Copenhagen 1954. Einar Munksgaard. 171 p.Robert Redfield. The Little Community. Chicago 1955. University of Chicago Press. 182 p. $4.00.Fritz Sternberg. Marx und die Gegenwart. Entwicklungstendenzen in der zweiten Hälfte des 20. Jahrhunderts. Köln 1955. Verlag für Politik und Wirtschaft. 388 S.

Notes: Political Economy—today. While fully appreciating the functions and achievements of pure theory and of econometrics, the writer considers it necessary to bear in mind those elements of our science which the classical economists, Friedrich List and Karl Marx called “political economy”. In agreement with Kuznets and others, he postulates a transition from the theory of the market-economy to an economy which is capable of dealing adequately with the problems of economic growth, and he gives some examples of the functions of a political economy in our day. Reference is made to such questions as development of under-developed countries, the drawing-up of a national economic budget, reform of the international monetary system, and trade-cycle policy (Konjunkturpolitik). Special emphasis is laid on the need to distinguish between a western and an eastern world economy, since this alone makes it possible to comprehend the difference in the division of industry and labour, the difference in general structure and the difference in susceptibility to crises. The writer also draws attention to the political prerequisites of any economic integration of Europe, since this will become possible only if there is retrenchment of exaggerated rights of sovereignty. A return, along these lines, to the principles of a political economy suited to the times is all the more urgent in that, as the writer pointed out in an earlier article (cf. Kyklas, Vol. VIII, 1955, No. 1, p. 1 ff.), we are about to enter upon a new stage of the industrial revolution, and one which is likely to be much wider in scope than even its nineteenth-century predecessor.

Notes: Measurement of the supply and demand relationship, as a technique for studying the prime causes of business cycles. The student of economic instability encounters a double problem: How to enable the businessman to maximize his profit? And, how to insure that profit maximization tends to synchronize supply and demand? This second phase of the problem has scarcely been studied, and could not be resolved with presently available means of observation. Hence, the need for a method to measure the supply and demand relationship.A distinction should be established between two kinds of supply and demand equality: apparent equality, produced by price movements—and real, underlying equality, presumed to result from price movements but much more difficult to verify. This discussion is confined to the real relationship.No one has yet established for certain whether the concept of real equality has any meaning whatever. It needs to be defined. This is the proposed definition: The supply really equals the demand only when the price at which goods sell equals their economic value. That definition is predicated upon the existence of a standard of the economic value of goods. But even economic value has not yet been endowed with a usable definition. It must be defined in terms of production costs uninfluenced by competition on the various markets. This necessitates the assumption of a hypothetical economy. The definition reads: The standard of the economic value of goods is the price at which these goods would tend to sell if they, as well as all other goods, were produced and marketed exclusively to order. By introducing the standard of economic value into the earlier definition of supply and demand equality, one arrives at the formula: The supply really equals the demand only when goods sell at the price at which they would tend to sell if they, as well as all other goods, were produced and marketed exclusively to order.The hypothetical nature of the yardstick proposed here forbids direct measurement of the real supply and demand relationship. Some indirect measurements are not, however, beyond our reach. But, more important than the concrete measurement of any particular real relationship is the abstract measurement whereby the new concept of real equality can be defined in mathematical terms. That definition is both necessary and sufficient to establish the link between prime factors causing business cycles.

Notes: W. ABEL, 0. HOWALD, E. LAGLER et H. SERAPHIM. Probleme einer europaischen Agrarintegration. Wien I 953. Verlag fur Geschichte und Politik. 96 p.GABRIEL A. ALMOND. The Apkeals of Communism. Principal Collaborators: Herbert E. Krugman, Elsbeth Lewin, Howard Wriggins. Princeton, N. J., 1954. Princeton University Press. xix, 415 p. f 6.00.Oxford Economic Atlas o j the World. Prepared by the Economist Intelligence Unit and the Cartographic Department ofthe Clarendon Press. London 1954. Oxford University Press. 265 p., s. 301-.L. ALBERT HAHN. l/ti'rtschaftsrmlissenschaft des gesunden Menschenuerstandes. Frankfurt am Main 1954. Verlag Fritz Knapp. 280 S. DM 15.-HANS HANDSCHIN. Der Verband schweizerischer Konsurnvereine (VSK) z890-rg53. (Genossenschaften in aller Welt, Bd. 2, hg. vom Verband schweiz. Konsumvereine.) Base1 I 954. 357 S.EDUARD HEIMANN. Wirtschaftsgsteme und Gesellschaftsgsteme. (Veroffentlichungen der Akademie fur Gemeinwirtschaft, Hamburg.) Tiibingen 1954. J.C.B. Mohr (Paul Siebeck). 265 p.Income Redistribution and Social Policy. A Set of Studies, ed. by ALAN T. PEACOCK. London 1954. Jonathan Cape. 296 p. s. 25/-.JEAN MARCHAL. Deux essais sur le marxisme. Paris 1955. Editions M.-Th. Gtnin, Librairie de Mtdicis. 264 p. ffr. 750.JEAN MARCHAL. Deux essais sur le marxisme. Paris 1955. Editions M.-Th. Gtnin, Librairie de Mtdicis. 264 p. ffr. 750.JEAN MARCHAL. Deux essais sur le marxisme. Paris 1955. Editions M.-Th. Gtnin, Librairie de Mtdicis. 264 p. ffr. 750.HANS RITSCHL. Die Grundlagen der Wirtschaftsordnung. Gesammelte Aufsatze zur Lehre von der Wirtschaftsordnung. (Veroffentlichungen der Akademie fur Gemeinwirtschaft, Hamburg). Tubingen 1954. J. C. B. Mohr (Paul Siebeck). 184 S. Brosch. DM I I.-, Lw. DM 14.-.

Notes: Problèmes d'économie internationale. Les échanges du capitalisme libéral. Par JEAN WEILLER. Wartime Food Developments in Switzerland. By J. ROSEN.