TEACHING ECONOMICS.

Hawke's Bay Herald-Tribune, Volume 81, Issue 23, 20 October 1937, Page 4

TEACHING ECONOMICS.

"Our new citizens should be given an aocount of tke present phasa of communication and trade, of production and invention," said Mr H. G. Wells, addressing tke education^! science section of tke Britisk Association. "Abovo all tkey need whatevor plain knowledge is available about tke conventions of property and money. Upon tkese conventions kumaa property stands, and tke efficiency of tkeir working is entirely dependent upon tke general' state of mind tkrougkout tka world. We know now tkat wkat used to be called the inexorable laws of poli'tical economy and tke laws of nymetary science are really no more tkan rash generalisations about kuman bekaviour, suppprted by a maximum of pompous verbi,age and a minimum of seientific observation. Most of our young people come on to adult life, to employment, business and tke rest of it^ blankly ignorant even of tke way in which money has ckanged slavery and serfdom into wages employment and how its fluctuations in value make tke industrial windmills spin or flag. Tkey are not even warned of tke significance of such words as iaflation or doflation, and tke wage earners are tke helplws prey at evory turn toward prosperity of tke savings-saatch-ing financier. Any plausible monetary ckarlatan can secure tkOir ignorant votes. Tkey know no better. Tkey Ciaunot kelp theruielvos. Yet tke subject of property and money — togetker tkey make one aubject because money is only the.fluid forrn of property, is scareely touched upon in any stage in tke education of any class in our community."