Abstract

This work contains, perhaps, a larger amount of vigorous orthodoxy than can elsewhere be found in so small a compass. It is a plea for a laissez-faire policy, and is full of wisdom of a kind that is needed, in view of the drift of opinions toward “stateism.” Its effect on public policy will be like that of an anchor planted on a shoal on one side of a channel in order to warp a vessel off from an opposite shoal. Yet in one way it brings economics and politics into close connection; it discusses government as an economic function, a process of creating and selling the product security. Though opposing governmental interference in industry, it emphasizes the action of economic law upon government.