"STABILISATION"

Otago Daily Times, Issue 24399, 10 September 1940, Page 9

" STABILISATION"

TO THE EDITOR Sir,—A careful peruual of your leading article on stabilisation in your issue of the 6th inst. gives food for reflection. You say, "It will be futile to hope for any useful achievement on the part of the conference unless the discussions are informed by an understanding of the need for stabilisation on a fair and just basis—one that will take account, for example, of the tremendous obstacles confronting the primary producing industries due to the heavy overburden of cost." It is to be feared that the majority

who nave read your article will tail to understand the issues involved These, as presented in your leader, are quite correctly stated, but the consideration of them involves a technical understanding ■of economics quite beyond the grasp of the ordinary reader. The quotation I made from your leader contains a proposition which no English economist has ever attempted to explain. It is not a new or exaggerated proposition: it is difficult merely because it is an ethical proposition, and ethical propositions do not come within the scope of the English classical school of economics. They raise a question for the Christian clergy to answer either affirmatively or negatively because "to be fair and just" demands a profound understanding 0.l financial manipulation .vhich is responsible for high cost.—l am, etc., September 8. W. Sivertsen.