ECONOMIC THEORIES

New Zealand Listener, Volume 21, Issue 534, 16 September 1949, Page 13

ECONOMIC THEORIES

A HISTORY OF ECONOMIC DOCTRINES, by Gide and Rist; Harrap, 21/-. "HIS work has long enjoyed a great Tteputation in the country of its origin and, in translation, in Englishspeaking countries. In this, the seventh edition, there are a hundred or so pages dealing with evénts since the death of the senior author, but little change other than that. It is very good for us to submit our economic theories to the cool and detached analysis so characteristic of the French school. We obtain a new view of Owen, Malthus, Smith, Ricardo and Mill; to name just a few English economists whose theories are examined. The chief weaknesses of the text are connected with Marx and the Swedish school. For example, the authors cite the growth in numbers of small manufacturers and the decline in numbers of large enterprises, overlooking entirely that Marx was concerned with the share of industry falling to either section. Similarly we are invited to examine the great increase in individual share-hold-ing, but we are not told that it was the control of large enterprises which interested Marx; and no one will say that share-holders exercise effective control of modern business. The Swedish school is highly regarded by the junior author, but the space devoted to others, frequently of merely academic interest, could with advantage have been devoted to the doctrines of this school. The authors do not hesitate to take sides in controversy, and positive guidance is offered. It is to be regretted that the sensible practice of reducing all direct quotations to footnotes has resulted in some of these carrying over for several pages to the great detriment of the argument in the text. The book comprises 800 pages, of which nearly 40 are index. e latter is adequately cross-indexed. Most of what the authors have to say is worth careful reading, and the excellent index is a valuable

aid to this,

J.D.

M.