Clue to the Economic Labyrinth.

Manawatu Herald, 21 May 1904, Page 2

Clue to the Economic Labyrinth.

No apology is needed for the introduction of a book of this nature. • In these days when fiscal and social problems occupy a great deal of public attention, any book, that will help to clear up the intricacies that seeminherent in such subjects, is welcome. But Mr Flurscheim's book is more than a mere addition to the existing works on Political Economy; it deals with several new phases of the economic question. The article in which Mr Flurscheim advocates a paper currency in preference to a metal one is entirely new, and therefore specially acceptable. The chapters that treat on Freetrade and Protection (from which we gather that the author favors Protection) will also be useful to the general public in considering Mr Chamberlain’s Preferential Trade proposals. Indeed Mr Chamberlain has a very strong supporter of his views in Mr Flurscheim.

The book deals with the Social quesfion in a very straightforward and lucid style. Mr Flurscheim recognises with Tolstoy that the povertyexisting at the present day is not to be remedied by charities and charitable institutions, but rather a complete reconstruction of the political and domestic relations in vogue. _ The chief evil, Mr Flurscheim thinks, is the present system of private ownership of land. Were the land owned in common by the people, he considers that the greatest obstacle in the way of social regeneration would be overcome. Whether this be so or not is a debatable point, but in view of the immense strides made by Labour and Socialism in the last decade, it behoves all to read a book that discusses these vital matters in so unprejudiced and able a manner as the “ Clue to the Economic Labyrinth.’’ Mr Flurscheim, it may be said, is fully conversant with New Zealand, and his remarks on the Colony will consequently be interesting to New Zealanders. He is an ardent supporter of the lease in perpetuity, and strongly condemns the freehold system. This, too, is a burning question, and our readers would do well to purchase the book, were it only on that account. The author concludes with some strong arguments in favour of Socialism; yet his views are not expounded in the “ Red Republican ” style that characterises some of the social agitators, but are explained in a thoroughly practical manner. Throughout the book Mr Flurscheim gives a clear insight into the science of Political Economy, and though the sentiments expressed may not be altogether orthodox, the fact must be borne in mind that hardly two works on this subject can be found to agree. And, moreover, even Adam Smith, perhaps the most eminent authority on Political Economy, is very much at fault in some of his ideas. We have therefore no hesitation in recommending the book to our readers as an interesting and instructive exposition of Political Economy; and in a young country like New Zealand, the subject should be carefully studied, so that we may take warning from the errors of older lands, and pursue a policy that will make us one of the most prosperous and happy communities on the face of the globe. The book can be obtained from Mrs Hussey, stationer.