Trusts and the State. By Henry W. Macrosty, B.A. (Grant
Richards. 5s.)—This is the first volume of a proposed "Fabian Series," to appear under the editorship of Mr. Frederick Whelen. The sub-title is "A. Sketch of Competition." Competition has, indeed, been the dominant principle in our trade and industrial development, but the time of its modification is approaching. There are the Trade-Unions; then there are the associations nf employers ; then comes the combination of capital and labour for protection or aggrandisement against the consumer. What is the State to do ? The laissez-faire policy is condemned on all sides. In every industry there is to be a Trade Board, to which representatives of employers and employed are to belong, and which will be presided over by a chairman, who will represent the public. Their first duty will be to fix a minimum living wage, to continue in force for a perb d of years. Old-age pensions will be provided. Mr. Booth's scheme of a universal 58. pension after sixty-five is preferred. This is but the barest outline of Mr. Macrosty's scheme. For details and arguments, and for a comprehensive review of the industrial movements which have brought about the present condition of affairs, we must refer our reticle! s to the volume itself. Any detailed examination of it would be clearly out of place in these columns. Our duty is per- formed when we have said that it is vigorously and clearly written.
Previous page
